LKQ Corporation
Securities Class Action

On February 2023, LKQ announced plans to acquire its competitor, Uni-Select Incorporated (“Uni-Select”), including Uni-Select’s United States operating subsidiary, FinishMaster. On April 23, 2024, LKQ lowered its financial guidance, citing slow demand in its North American segment, where FinishMaster was being integrated. LKQ also announced that CEO Dominick Zarcone, who oversaw the Uni-Select acquisition, was leaving the Company. On this news, LKQ’s stock price fell $7.28 per share, or 14.9%, to close at $41.65 per share on April 23, 2024. Then, on July 25, 2024, LKQ reported disappointing earnings for its second fiscal quarter of 2024. LKQ revealed that it had missed revenue estimates for the quarter and further lowered its financial guidance for the rest of the fiscal year, again blaming slowing demand on its North American segment. On these disclosures, LKQ’s stock price fell $5.53 per share, or 12.4%, to close at $38.95 per share on July 25, 2024. On October 24, 2024, LKQ revealed that the FinishMaster business was, in fact, losing business, including major customers, to LKQ’s competitors. LKQ revealed that these losses began “pre-acquisition or pre-closing and leading into post-acquisition.” Then, on April 24, 2025, LKQ revealed that its North American market segment, where FinishMaster was now fully integrated, had continued to lose market share due to competitors consistently undercutting LKQ on price, causing LKQ to miss revenue and margin targets. Following these disclosures, LKQ’s stock price fell $4.87 perf share, or 11.6%, to close at $37.26 per share on April 24, 2025. Finally, on July 24, 2025, LKQ disclosed that its worsening market share losses had caused the Company to miss margin targets again. On this news, LKQ’s stock price fell $6.88 per share, or 17.8%, to close at $31.73 per share on July 24, 2025.