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Lumber Liquidator shareholder files class action

Saturday - 11/30/2013, 6:18pm  ET

BOB LEWIS
AP Political Writer

NEWPORT NEWS, Va. -- 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 (toh-AN'-oh) 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 (http://bit.ly/1jUXemN) reports that the suit was filed this week in U.S. District Court in Newport News. The company has not yet responded.

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Information from: The Virginian-Pilot, http://pilotonline.com


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