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Lumber Liquidators Holdings latest news:
Lumber Liquidators stock boosted as company settles China-related claims
Flooring retailer to pay $22 million in cash and $14 million in store vouchers to settle claims. Shares of Lumber Liquidators Holdings Inc. (LL) rose 1.4% Wednesday after the company said it has signed a memorandum of understanding to settle claims related to Chinese laminated wood flooring that it used to sell in the U.S. The company will pay $22 million in cash and another $14 million in store credit vouchers to settle claims brought on behalf of buyers of the flooring, which was...
Lumber Liquidators settles class-actions related to China-made products
Lumber Liquidators said it would settle all pending litigations related to China-made flooring products for $36 million.
Lumber Liquidators reaches $36 mln deal on Chinese laminate products
Lumber Liquidators LL said late Tuesday that it reached an agreement with a group of plaintiffs to settle lawsuits associated with Chinese-made laminate flooring previously sold by Lumber Liquidators during Jan. 1, 2009 to May 31, 2015. Under the terms of the memorandum of understanding, Lumber Liquidators will pay $22 million in cash and provide $14 million in store credit to the plaintiffs. "The company's execution of the MOU does not constitute an admission by the company of any fault or liability," said Lumber Liquidator in a statement. The lumber retailer had come under fire after "60 Minutes" in 2015 reported that the company sold wood flooring containing dangerous levels of formaldehyde. Shares of Lumber Liquidator rose 2.6% after hours. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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