You are currently browsing the monthly archive for June 2015.
Read a letter from GCM to the CSPC highlighting the comments of the public about the problems with Lumber Liquidators laminate flooring.
From Fortune The discount hardwood floor retailer found itself in even more turmoil as its CEO abruptly resigned amid a federal probe into product safety and dozens of lawsuits. Lumber Liquidators Holdings LL -16.50% Chief Executive Bob Lynch has abruptly resigned, creating even more turmoil at the discount hardwood flooring retailer as it faces a Continue Reading »
From the New York Times Lumber Liquidators, under scrutiny for months as it faces accusations that it sold products with dangerous levels of formaldehyde, said Thursday that its chief executive had left the company. The chief executive and president, Robert M. Lynch, resigned “unexpectedly,” the company said. Thomas D. Sullivan, the company’s founder, will serve Continue Reading »
From CBS News Lumber Liquidators (LL) said Thursday that CEO Robert Lynch is stepping down. Lynch’s surprise exit from the flooring retailer follows a plunge in the company’s financial performance triggered by a March report by CBS news show “60 Minutes” that found some of the Chinese-made laminate flooring sold at its store violated health Continue Reading »
Lumber Liquidators’ fight against claims its China-sourced laminate flooring contained unsafe levels of formaldehyde could get a lot tougher. Many of the retailer’s product liability insurance carriers are refusing to defend the company in class-action suits brought by unhappy customers — forcing the company to file suit against the insurers, court papers filed in a Continue Reading »
The floor gave way under Lumber Liquidators on Wednesday. The troubled hardwood flooring retailer, in a blizzard of bad news, revealed the feds have launched a criminal probe into its China-sourced laminate flooring; reported that first-quarter results swung to a loss from a profit last year; and announced that Chief Financial Officer Daniel Terrell is Continue Reading »