What is the problem with Lumber Liquidators?
Lumber Liquidators to pay $33 million for misleading investors about formaldehyde in laminate flooring. Virginia-based Lumber Liquidators, one of the largest flooring retailers in the country, has agreed to pay a $33 million penalty for misleading investors about formaldehyde-laced laminate flooring from China.
Is it safe to buy from Lumber Liquidators?
CDC/ATSDR found that exposure to formaldehyde in the CPSC-tested laminate flooring sold at Lumber Liquidators® could cause irritation and breathing problems. However, you can take steps to reduce formaldehyde levels in your home.
What was the scandal at Lumber Liquidators?
Lumber Liquidators shares were slammed in March 2015 after a “60 Minutes” report alleged that Chinese-made laminate flooring from Lumber Liquidators installed in many American homes contained far higher than accepted levels of formaldehyde, a known carcinogen.
What happened to the Lumber Liquidators lawsuit?
Lumber Liquidators has agreed to pay up to $30 million to resolve claims that their bamboo flooring is defective and prone to damage. The settlement will benefit Class Member consumers who purchased Lumber Liquidators Morning Star Strand Bamboo flooring between Jan. 1, 2012 and March 15, 2019.
Which Lumber Liquidators flooring has formaldehyde?
The following types of Lumber Liquidators lumber may contain excessive and illegal amounts of formaldehyde: 8 mm Bristol County Cherry Laminate Flooring. 8 mm Dream Home Nirvana French Oak Laminate Flooring. 12 mm Dream Home Kensington Manor Antique Bamboo Laminate Flooring.
Did Lumber Liquidators get sued?
In 2018, Lumber Liquidators was ordered to pay a $36 million settlement as a result of the class action lawsuit. And on Tuesday, the company agreed to pay a $33 million penalty to settle federal charges that it misled its investors about the flooring.