In a recent securities filing, Michigan-based Methode Electronics, Inc., a global supplier of mechatronic products to original equipment manufacturers in the automotive, commercial vehicle, bus, rail, and aerospace industries, revealed that the U.S. Securities and Exchange Commission closed its investigation into, among other issues, the company’s compliance with the Foreign Corrupt Practices Act. According to the Form 8-K filed on May 14, 2026, the SEC staff decided to end the investigation without commencing an enforcement action.
In an earlier SEC filing, specifically a Form 10-Q for the quarter ending January 31, 2026, the company had disclosed that it had previously received SEC subpoenas dated November 1, 2024, and March 12, 2025. These subpoenas requested documents regarding the company’s “operations in certain foreign countries,” as well as “certain financial and accounting matters relating thereto, compliance with the Foreign Corrupt Practices Act and other anti-corruption laws, material weaknesses in the Company’s internal control over financial reporting previously reported in its public filings, 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.” At the time, the company stated that it was cooperating with the SEC’s investigation. On May 14, 2026, the SEC staff informed the company that the investigation had concluded without a recommendation of an enforcement action.
Form 8-K | Form 10-Q (March 2026)