|By PR Newswire||
|January 22, 2014 07:46 PM EST||
NEW YORK, Jan. 22, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of LKQ Corporation ("LKQ" or the "Company") (NASDAQ: LKQ). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether LKQ and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On December 15, 2012, the company was profiled in a report by short seller Prescience Point, who claims that the company inappropriately accounts for certain of its activities including inventory turnover, gross margins and organic growth rate.
On this news, shares of LKQ fell $2.83 per share to more than 8.76% on intraday trading to a price of $29.46 on January 15, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP