A securities class action has been filed against LKQ Corporation (LKQ) on behalf of all persons who purchased or otherwise acquired LKQ common stock between February 27, 2023 through July 23, 2025. This case has been filed in the USDC – MDTN.
LKQ is a global distributor of alternative collision replacement parts, recycled engines, and other vehicle components for the repair of automobiles. In February 2023, LKQ announced plans to acquire its competitor, Uni-Select Incorporated (“Uni-Select”), including Uni-Select’s United States operating subsidiary, FinishMaster. FinishMaster offered automotive refinish and painting services at approximately 200 locations throughout the United States, accounting for approximately 40% of Uni-Select’s annual revenue. LKQ paid approximately $2.1 billion to acquire Uni-Select.
The complaint alleges that throughout the Class Period, LKQ repeatedly touted the benefits of the acquisition. In announcing the acquisition in February 2023, LKQ represented that the acquisition was a “compelling strategic fit” to “enhance LKQ’s business and drive profitable growth.” LKQ also represented that the acquisition presented “minimal integration risk,” including because “Uni-Select’s FinishMaster business improves LKQ’s scale and product mix to compete” in the North American automotive paint segment.
As a result of Defendants’ wrongful acts and omissions, and the resulting decline in the market value of LKQ common stock, Plaintiff and other Class members have suffered significant losses and damages