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Methode Electronics, Inc.

Company NameMethode Electronics, Inc.
Stock SymbolMEI

On July 14, 2023, Methode announced that its Chief Operating Officer, Joseph Khoury, had been placed on leave and that his “powers, authority and duties . . . were suspended.”

Then, on December 7, 2023, Methode disclosed that Khoury had been terminated as an employee of the Company’s Egyptian subsidiary and is no longer associated with the Company, stating that “the Company has eliminated the position of Chief Operating Officer for the present time.”

On this news, Methode’s stock price fell $2.26, or 9.3%, to close at $22.13 per share on December 7, 2023, thereby injuring investors. 

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