LKQ Corp. confirms patent lawsuit filed by Chrysler LKQ Corporation confirmed that a complaint has been filed against it by Chrysler Group in the U.S. District Court in the Eastern District of Michigan. The lawsuit contends that certain aftermarket parts LKQ sells infringe Chrysler design patents relating to the Dodge Ram pickup truck. LKQ said, "We believe that the lawsuit is without merit and will defend it vigorously. Moreover, the parts we sell that allegedly relate to these design patents represent an immaterial amount of our revenue. They represent less than one-tenth of one percent (0.001) of our estimated 2013 total revenue and less than one-half of one-tenth of one percent (0.0005) of our estimated total revenue for all the years since the first patent was granted (2009 through 2013). We have forged mutually-beneficial business relationships with other auto manufacturers. As previously disclosed, we have had a license arrangement with Ford since 2009. The license arrangements allow us to sell aftermarket parts covered by certain patents in exchange for a license fee."
News For LKQ From The Last 14 Days
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LKQ Corp. agrees in principle to acquire five distributors for $180M LKQ Corporation announced that it has signed letters of intent to acquire five Netherlands companies, all of which are customers of and currently serve as distributors for LKQ's Netherlands subsidiary, Sator Holding B.V. Our preliminary estimate of the aggregate annual revenue of the five companies is approximately $180M. LKQ is targeting the completion of the transactions in the second or third quarter of 2014.