LKQ Shareholders Allege Defendants Drove Stock Price Into the Junkyard

LKQ told investors its $2.1 billion Uni-Select deal, including FinishMaster, would drive growth and strengthen its market position. According to the complaint, LKQ called it a "compelling strategic fit" with minimal integration risk. But the lawsuit says, FinishMaster was already losing major customers and market share. Investors allegedly had no idea.

In February 2023, LKQ announced the Uni-Select acquisition and pointed to profitable growth, minimal integration risk, and significant financial benefits. Even after closing the deal in August, executives kept saying the integration was ahead of schedule and would deliver greater synergies.

But the lawsuit says FinishMaster had been losing key customers since before the acquisition closed. Competitors were undercutting LKQ on price, and the business meant to protect revenue was actually dragging it down.

In April 2024, LKQ cut guidance and the stock dropped about 15%. In July, after another weak quarter and another guidance cut, shares fell another 12%. By October, LKQ revealed FinishMaster had been losing major business since before the acquisition closed. Then in 2025, more missed targets followed, and shares fell again.

Investors were surprised. Shares kept falling.

Now, LKQ shareholders are learning more about the lawsuit.