Faruqi & Faruqi Appointed Sole Lead Counsel to Represent Methode Electronics, Inc. Shareholders in Securities Class Action

On February 3, 2025, United States District Judge Sara L. Ellis of the Northern District of Illinois appointed Faruqi & Faruqi, LLP, as sole lead counsel in Salem v. Methode Electronics, Inc., 24-cv-7696. The suit centers on allegations that Defendants made false and misleading representations regarding and/or failed to disclose that  (1) Methode’s Automotive segment was not growing in the EV space to sufficiently replace the revenue that Methode was losing from the end of its GM center console program; (2) the Company’s Automotive segment, particularly as it relates to Methode’s operations in North America, was experiencing significant, ongoing  operational inefficiencies that impaired the Company’s ability to generate sustainable revenue growth and profitability; and (3) as a result, Defendants’ representations about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.

For further inquiries regarding this matter, please contact James M. Wilson, Jr. at jwilson@faruqilaw.com or (212) 983-9330.

A copy of the Court’s order is linked below.