LKQ Confirms Chrysler Lawsuit, Says it's Without Merit
LKQ Corporation (Nasdaq: LKQ) confirmed that a complaint has been filed against it by Chrysler Group (NYSE: CGC) in the U.S. District Court in the Eastern District of Michigan. The lawsuit contends that certain aftermarket parts we sell infringe Chrysler design patents relating to the Dodge Ram pickup truck.
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).