Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against LKQ Corporation (LKQ)

NEW YORK, April 23, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Middle District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired LKQ Corporation (“LKQ” or the “Company”) (NASDAQ: LKQ) securities between February 27, 2023 and July 23, 2025, inclusive (the “Class Period”).

The Complaint alleges that throughout the Class Period, LKQ repeatedly touted the benefits of the acquisition. The Complaint alleges that 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.” The Complaint alleges that 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.

The Complaint states that in truth, FinishMaster was losing major customers and market share, including the business of key clients that were critical to revenue. The Complaint states as LKQ later admitted, these customer losses began before the acquisition started and only grew worse as LKQ continued to integrate FinishMaster into its operations.

The truth began to emerge on April 23, 2024, when LKQ surprised investors by lowering its financial guidance, blaming slow demand in its North American segment, where FinishMaster was being integrated. The Complaint alleges that the Company also announced that CEO Dominick Zarcone, who oversaw the Uni-Select acquisition, was departing the Company, as a result of these disclosures, the price of LKQ stock declined by $7.28 per share, or 14.9%. The Complaint states, however, the Company reassured investors that the Uni-Select acquisition “was the right thing to do long term” and that the Company had “uncovered additional synergies” during the integration of FinishMaster.

Investors who purchased or otherwise acquired shares of LKQ should contact the Firm prior to the June 22, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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