Reuters/ Rick Wilking Lumber Liquidators will stop selling its laminate flooring sourced in China.. The stock rose by up to 3% in pre-market trading. It's down 47% since March 1, when CBS' "60
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Home improvement retailer Lumber Liquidators announced it's halting sales of all its Chinese-made laminate flooring effective immediately. The move comes in the face of dozens of lawsuits over the
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Hardwood flooring heavyweight Lumber Liquidators on Tuesday announced a memorandum of understanding MOU to settle all pending class action claims over its China-made laminate flooring products for an aggregate amount of $36 million.
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The issue was brought to light by a 60 Minutes report in March 2015, which revealed that testing found that wood flooring sourced from China and sold at Lumber Liquidators stores was not
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The lawsuit alleges that the formaldehyde omitted from the flooring is multiple times the maximum permitted at the time of purchase. Allegedly, the company has benefited from making misrepresentations about the levels of formaldehyde in its flooring and through its cheap and illegal sourcing of lumber from China.
NEW YORK TheStreet -- Cheap wood flooring, furniture and cabinetry from China that contains high levels of the chemical formaldehyde may or may not be bad for your health, but it's definitely
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