An investigation for investors in LKQ Corporation (NASDAQ:LKQ) shares over potential securities laws violations by LKQ Corporation was announced and NASDAQ:LKQ stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 01/27/2014 -- An investigation on behalf of investors of LKQ Corporation (NASDAQ:LKQ) shares over potential securities laws violations by LKQ Corporation and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of LKQ Corporation (NASDAQ:LKQ) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of LKQ Corporation (NASDAQ:LKQ) concerning whether a series of statements by LKQ Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
LKQ Corporation reported that its annual Total Revenue rose from over $2.04 billion in 2009 to over $4.12 billion in 2012 and that its respective Net Income increased from $127.52 million to $261.23 million.
Shares of LKQ Corporation (NASDAQ:LKQ) grew from $20.42 per share in early 2013 to as high as $33.86 per share in late 2013.
Then on January 15, 2014 a short-seller published a report alleging that the company has exaggerated revenue growth.
On Jan 16, 2014, LKQ Corporation commented on the report and said that it disagrees with many of its statements, assumptions and conclusions and said that it contains numerous inaccuracies.
On Jan 20, 2014, LKQ Corporation confirmed that a complaint has been filed against it by Chrysler Group LLC. LKQ Corporation said that the lawsuit contends that certain aftermarket parts it sells allegedly infringe Chrysler design patents relating to the Dodge Ram pickup truck.
Shares of LKQ Corporation declined from $32.72 per share on January 14, 2014, to $25.44 per share on January 22, 2014.
On January 24, 2014, NASDAQ:LKQ shares closed at $26.16 per sahre.
Those who purchased shares of LKQ Corporation (NASDAQ:LKQ), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com