America’s largest speciality hardwood retailer Lumber Liquidators is hosting a call right now to address concerns about its Chinese manufactured laminate flooring.
In their presentation for the call, the company said that they “stand behind their products and know they are safe.” The company also said that they will also offer free air quality testing to customers who qualify.
Since a troubling “60 Minutes” investigative report on the company aired March 1, shares of Lumber Liquidators have collapsed about 36%. The stock was last trading up about 3% on Thursday.
During their investigation, “60 Minutes” found that Lumber Liquidators appeared to be selling laminate flooring from China with levels of formaldehyde higher than what is permitted under California law. High levels of formaldehyde have been tied to numerous health concerns.
Afterward, Lumber Liquidators in a statement accused “60 Minutes” of using “an improper test method in its reporting.” The company also claimed that they are being attacked by a small group of short-sellers.
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