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6. Lumber Liquidators fires back after 25% drop

Mon Mar 2, 2015, 04:36 PM

Mar 2015

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#.

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60 Minutes Actually Interesting Tonite [View all] Stallion Mar 2015 OP

Recommend Wella Mar 2015 #1

Thx for the info. Chipper Chat Mar 2015 #2

Back to its glory days when it really uncovered fraud (nt) question everything Mar 2015 #3

YES IT WAS! I hope that expose' gets the execs of that insurance company napi21 Mar 2015 #4

Yes, I was surprised they actually did some old fashioned journalism. progressoid Mar 2015 #5

Lumber Liquidators fires back after 25% drop question everything Mar 2015 #6