Lumber Liquidator shareholder files class action
NEWPORT NEWS, Va. (AP) - A Lumber Liquidators shareholder has filed a class action lawsuit alleging that executives of the Virginia company made false and misleading statements about where they sourced the company's wood products.
The Toano company is being investigated by federal authorities on suspicion of importing illegally logged wood products as well as importing wood flooring tainted with excessive levels of formaldehyde.
Lumber Liquidators is a hardwood flooring retailer with more than 305 stores in North America. Its products also include bamboo, cork and laminate floors.
At the time of the raid, the company released a statement saying it was cooperating with the government.
The Virginian-Pilot reports that the suit was filed this week in U.S. District Court in Newport News. The company has not yet responded.