STORY FROM: Lumber Liquidators Flooring
Virginia Lawsuit Accuses Lumber Liquidators Execs of Concealing Source of Illegal Flooring Product
April 14, 2015
WILLIAMSBURG, Va. — A Lumber Liquidators shareholder has filed a lawsuit in Virginia state court accusing company executives of buying Russian and Chinese-sourced wood for use in flooring products despite knowing that it was being illegally harvested and contained harmful levels of formaldehyde.
The shareholder derivative lawsuit filed in City of Williamsburg and County of James City Circuit Court on March 27 alleges that the purchases, made as part of what Lumber Liquidators directors said was a “sourcing initiative” aimed at improving profit margins, ultimately harmed the company and its investors once federal investigators and laboratory analysis revealed problems with ...
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