Lumber Liquidators Stock Drops 11% After Formaldehyde Report - TopicsExpress

Lumber Liquidators Stock Drops 11% After Formaldehyde Report Lumber Liquidators’ stock price fell 11 percent to $76.63 following the release of a report finding high levels of formaldehyde in the company’s China-sourced engineered flooring. “There are reasons to believe the company has been knowingly selling noncompliant products to consumers and the stated compliance on some of its products is inaccurate,” ,” writes Xuhua Zhou of stock market analysis website SeekingAlpha in a letter to Mary D. Nichols, chairman of the California Air Resources Board. Accompanying the letter was a report from Berkeley Analytical showing that a particular product that was labeled “California 93120 Phase 2 Compliant for Formaldehyde of Plywood” contained high levels of the carcinogen.

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