Lumber Liquidators was accused of misleading investors about selling laminate flooring that contained excessive amounts of formaldehyde
Lumber Liquidators Holdings Inc. has agreed to pay $33 million in fines after federal regulators and prosecutors accused the company of misleading investors about selling laminate flooring that contained excessive amounts of formaldehyde.
Authorities opened probes into the hardwood-flooring firm after “60 Minutes” reported in 2015 the company sold laminate flooring containing levels of formaldehyde, a carcinogen, exceeding regulatory standards. Prosecutors allege that Lumber Liquidators knew that its largest Chinese supplier...
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