Bragar Eagel & Squire, P.C. is investigating potential claims against LKQ Corporation on behalf of long-term stockholders following a class action complaint filed on April 22, 2026. The investigation concerns whether the board of directors of LKQ breached their fiduciary duties to the company related to its approximately $2.1 billion acquisition of Uni-Select, including its U.S. subsidiary FinishMaster. Shareholders who purchased securities between February 27, 2023, and July 23, 2025, are affected by the class period.

The complaint alleges that defendants made materially false and misleading statements about the success and strategic benefits of the acquisition while concealing that FinishMaster was losing major customers and market share. As the truth about deteriorating performance in LKQ's North American segment emerged through a series of disclosures between April 2024 and July 2025, LKQ's stock price suffered cumulative declines totaling over $24 per share.

Investors learned of these issues through a series of disclosures where LKQ cut financial guidance multiple times and missed revenue and margin targets. The company admitted that FinishMaster had been losing customers since before the acquisition and revealed ongoing market share losses due to competitive pricing pressure.

In April 2025, LKQ's Wholesale North America segment missed quarterly revenue targets by approximately $200 million and EBITDA margin targets by $24 million. By July 2025, the company reported an additional EBITDA miss of approximately $20 million, driven by an 11% year-over-year margin decline. Long-term stockholders are encouraged to contact Bragar Eagel & Squire, P.C. to discuss their legal rights.