Subscribe
Retail

LMP Automotive sues over held deposits in terminated acquisitions

LMP Automotive at the New York Stock Exchange
MB
By:
Melissa Burden
June 14, 2022 04:00 AM

LMP Automotive Holdings Inc. has sued two dealership owners, seeking a combined $3 million in deposits the auto retailer made to acquire stores and property in New York and Texas. The lawsuits follow LMP Automotive terminating the deals this year.

Featured Stories

Tesla could benefit from Trump’s tariffs by undercutting rivals. Here’s how.
Tesla could benefit from Trump’s tariffs by undercutting rivals. Here’s how.
Trump pushes for auto loan interest deductions for U.S.-made models
Trump pushes for auto loan interest deductions for U.S.-made models
Live updates on tariffs: Industry works to minimize disruption
Live updates on tariffs: Industry works to minimize disruption
Dealership buy-sell database updates: Details on 11 deals across 10 states
Dealership buy-sell database updates: Details on 11 deals across 10 states

Latest News

Live updates on tariffs: Industry works to minimize disruption
Top 5 Canadian auto stories this week: Trump auto tariffs; Tesla payments frozen; more
Trump sued by Democratic FTC commissioners for their firings
Ford CEO Jim Farley to employees: U.S. footprint a positive, but tariff impact ‘likely to be significant’
Staying current is easy with newsletters delivered straight to your inbox.

See More in Retail

Trump tariffs: Dealers confused but resilient in face of new reality
Tariff threat likely spooked consumers and drove March, Q1 U.S. sales gains
New cars under $30K could be a casualty of Trump’s tariffs
Live talk at noon March 31: Top 150 Dealership Groups and automotive retail
Staying current is easy with newsletters delivered straight to your inbox.