Lumber Liquidators Holdings, Inc.
Lumber Liquidators Holdings, Inc.
On November 16, 2016, the Court approved a final settlement of the claims in this litigation for $26 million in cash and 1 million Lumber Liquidators shares.
A copy of the judgment approving the settlement is available in the right sidebar.
On December 21, 2015, the Court denied defendants' motion to dismiss.
A copy of the order is available in the right sidebar.
On November 26, 2013, we filed a class action lawsuit against Lumber Liquidators, Inc. (the "Company"), and certain of its officers. The class action, filed in United States District Court, Eastern District of Virginia, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Lumber Liquidators securities between February 22, 2012 and November 21, 2013 both dates inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Lumber Liquidators securities during the Class Period, you have until January 27, 2013 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be downloaded via the link in the right sidebar. To discuss this action, please call us at 866.833.6245, or contact the attorney below.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) certain of the Company's products failed to comply with applicable laws and regulations governing formaldehyde emissions from composite wood products; (2) the Company imported flooring products sourced from illegally logged wood in the Russian Far East in violation of the Lacey Act; (3) as a result of the foregoing violations, the Company faces the risk of large fines, penalties, forfeitures, judgments and/or settlements in connection with government regulatory actions and/or consumer class actions; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
We are investigating possible violations of federal securities laws by officers and directors of Lumber Liquidators Holdings, Inc. (Lumber Liquidators) (NYSE: LL).
On September 27, 2013, Lumber Liquidators announced that federal agents from U.S. Immigration and Customs Enforcement and the Fish and Wildlife Service had executed search warrants at the Company’s Virginia offices in connection with the importation of certain wood-flooring products.
Upon the above news, LL shares declined over 5%, representing shareholder losses of over $160 million.
Previously, in June 2013, a report published on Seeking Alpha claimed that independent testing of certain imported wood flooring products sold by Lumber Liquidators, conducted at two different IAS certified laboratories, revealed illegally high levels of formaldehyde, a known carcinogen, in violation of regulations set by the U.S. Environmental Protection Agency.
Our investigation concerns whether Lumber Liquidators management has misled investors concerning, among other things, the Company’s compliance with applicable laws, rules and regulations governing its imported wood flooring products.
Persons with relevant information, and LL shareholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.833.6245.