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 | Investigations Dataset

Stanford Foreign Corrupt Practices Act Clearinghouse a Collaboration with Sullivan & Cromwell LLP

Investigations Dataset

 
Investigation into Methode Electronics Activities in Unspecified Countries · Methode Electronics, Inc.

Information & Summary

Investigation into Methode Electronics Activities in Unspecified Countries

Related FCPA Matter:   Methode Electronic's Involvement in Unspecified Countries Information

Information & Summary

Investigation Name:    Investigation into Methode Electronics Activities in Unspecified Countries

Trend:    None

Type of investigation:    SEC

Other Agencies Investigating/Assisting with SEC Investigation:    Unknown

Whistleblower:    Unknown

Summary

Methode Electronics, Inc., based in Chicago, supplies electronic and electro-mechanical devices to a variety of industries. The company operates through four segments: Automotive, Industrial, Interface, and Medical. Its shares are traded on the New York Stock Exchange under the ticker MEI.

In its 10-Q filed on December 5, 2024, Methode disclosed that the company had received a subpoena from the SEC on November 1, 2024, seeking documents and information relating to the company’s operations in certain foreign countries, compliance with the FCPA and other anti-corruption laws, and material weaknesses in the company’s internal control over financial reporting previously reported in its public filings. Methode said it was cooperating with the SEC's investigation.

In its 10-K filed on July 9, 2025, Methode disclosed that the SEC had issued an additional subpoena on March 12. The subpoena soughts documents and information relating the same areas as the earlier subpoena as well as "deficiencies and significant deficiencies in the Company’s internal control over financial reporting, accounting and finance policies and procedures and other accounting and finance matters including new business bookings, certain financial metrics and performance indicators, performance relative to targets and guidance for certain periods, executive compensation policies and amounts, hotline tips and complaints, and terminations or resignations of company executives."

This investigation is ongoing.

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