Tekion Files Lawsuit Against CDK Global's Anticompetitive Practices
Asbury Automotive Group Inc (ABG)
Last asbury automotive group inc earnings: 2/3 07:00 am
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Source: Business Wire
CDK exploits its monopoly and chokehold on customers’ data to stifle competition and innovation PLEASANTON, Calif.--(BUSINESS WIRE)--Tekion, innovator of the first cloud-native platform serving the entire automotive retail ecosystem, today filed a federal antitrust lawsuit against CDK Global, Inc. (“CDK”) accusing CDK of engaging in a systematic scheme to thwart competition in the franchise dealer management system (DMS) market.“CDK's technology is outdated. Instead of innovating and competing fairly, CDK has resorted to unfair and anticompetitive business tactics to protect its dominant market position, including holding dealers’ data hostage to stop them from switching to a platform of their choice. In some cases, CDK has even sued its own customers over access to their data,” said Jay Vijayan, Founder & CEO of Tekion. “We have decided to stand up to CDK’s illegal practices to preserve fairness and competition in the automotive retail ecosystem.”Started in 2016, Tekion’s cloud-na
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ABG
Earnings
- 10/29/24 - Miss
ABG
Sec Filings
- 12/2/24 - Form 4
- 11/27/24 - Form 144
- 11/19/24 - Form 8-K
- ABG's page on the SEC website