LKQ Corporation Class Action Lawsuit - LKQ
Case Summary
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The LKQ class action lawsuit seeks to represent purchasers or acquirers of LKQ Corporation (NASDAQ: LKQ) common stock between February 27, 2023 and July 23, 2025, inclusive (the “Class Period”). Captioned City of Miami General Employees’ & Sanitation Employees’ Retirement Trust v. LKQ Corporation, No. 26-cv-00498 (M.D. Tenn.), the LKQ class action lawsuit charges LKQ and certain of LKQ’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the LKQ class action lawsuit, please provide your information in the form on this page. You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: LKQ engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. According to the complaint, in February 2023, LKQ announced plans to acquire its competitor, Uni-Select Incorporated, including Uni-Select’s United States operating subsidiary, FinishMaster.
The LKQ class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) FinishMaster was losing major customers from the time the acquisition was announced and its business could not sustain, let alone grow, LKQ’s eroding market share; and (ii) to the extent that LKQ purported to warn of the risks regarding the Uni-Select acquisition and FinishMaster integration, LKQ failed to disclose that such risks had already materialized and were negatively impacting LKQ’s operational and financial performance.
The LKQ class action further alleges that on April 23, 2024, LKQ lowered both its revenue guidance and its earnings guidance for the 2024 fiscal year. LKQ allegedly attributed the reduction of its earnings projections to the worsening performance of its North American operations, where FinishMaster was being integrated, but blamed its declining performance on slowing demand and warmer weather reducing the need for auto repairs. LKQ further allegedly announced that defendant Dominick P. Zarcone, who oversaw the Uni-Select acquisition and FinishMaster integration, was departing LKQ. On this news, the price of LKQ stock fell nearly 15%, according to the complaint.
Then, on July 25, 2024, LKQ reported disappointing financial results for the second quarter of 2024 and failed to meet the reduced revenue targets that it set only one quarter earlier, the complaint alleges. LKQ allegedly attributed the poor results to the demand issues impacting the performance of its North American operations and further reduced its financial guidance for the 2024 fiscal year. The LKQ class action lawsuit alleges that on this news, the price of LKQ stock fell more than 12%.
Thereafter, the LKQ class action lawsuit alleges that on April 24, 2025, LKQ reported that its Wholesale North America segment, where FinishMaster was now fully integrated, missed quarterly revenue targets by approximately $200 million and that, contrary to its assurances that FinishMaster improved LKQ’s margins, the segment missed adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) margin targets by $24 million and suffered a year-over-year decline of 9%. On this news, the price of LKQ’s stock allegedly fell nearly 12%.
Finally, on July 24, 2025, LKQ reported that the Wholesale North America segment’s margin performance continued to deteriorate due to competitors taking market share by undercutting LKQ on price, the complaint alleges. LKQ allegedly admitted that its earnings and margin declines were predominantly driven by business losses from increased competition from others in the industry. On this news, the price of LKQ stock fell nearly 18%, the complaint alleges.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired LKQ common stock during the Class Period to seek appointment as lead plaintiff in the LKQ class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the LKQ class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the LKQ class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the LKQ class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.