- LKQ Corp. (LKQ), which fell nearly 9% yesterday after Prescience Point Research said it exaggerated revenue growth, today said the short seller's report contained "numerous inaccuracies."
- Prescience Point said profits at LKQ have been amplified by acquisitions and the company faces declining demand for its auto parts.
- LKQ says management stands behind the company but the company is now in a blackout period until financial results are issued in late February.
- Investors should buy LKQ shares after the decline, Stifel Nicolaus says, citing management's “best in class” practices.
LKQ defends itself against short-seller's report predicting 70% drop
Jan 16 2014, 18:08 ET