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2 stories-one attacking Insurance companies for intentional changing the recommendations of their engineering inspectors after Hurricane Sandy and Lumber Liquidators intentional selling Chinese flooring falsely labeled as meeting industry standards for formaldehyde. I started laughing when in both stories, the companies blamed lawyers for their intentional fraud when it was the lawyers who helped expose the fraud. Sell your Lumber Liquidator stock
Wella
(1,827 posts)Thanks for posting this.
Chipper Chat
(9,753 posts)I can't pull myself away from 'Fiddler On the Roof' on TCM.
question everything
(47,850 posts)napi21
(45,806 posts)into a nice hot trial, bankrupts the damn company, and trots those criminals off to a nice LONG vacation in FEDERAL PRISON! As I see it, it shoud be a Federal Case because there were Federal funds involved in Sandy.
progressoid
(50,142 posts)question everything
(47,850 posts)Lumber Liquidators lashed out at its critics on Monday after the company's stock lost a quarter of its value. That move followed a CBS report that the company sold flooring with higher levels of formaldehyde than permitted under California's health and safety standards.
The stock fell more than 25 percent in Monday's trading after being halted from the opening bell until about 11:15 a.m. EST. A "60 Minutes" segment on Sunday said it tested Lumber Liquidators' flooring in Virginia, Florida, Texas, Illinois and New York for levels of formaldehyde, a cancer-causing chemical.
"Out of the 31 samples of Chinese-made laminate flooring, only one was compliant with formaldehyde emissions standards. Some were more than 13x over the California limit," according to CBS.
http://www.cnbc.com/id/102466810#.