A countrywide flooring company has a time-honored obligation for mendacity to the SEC when it denied claims that laminate flooring contained dangerous levels of formaldehyde.
According to a brand new FBI document, Lumber Liquidators has agreed to make false statements and pay $33 million in consequences, fines, and asset forfeiture.
In 2015, news reports reviewed certain problems with the organization’s laminate floor products, alleging the floors contained dangerously high levels of the related to nausea, complications, and most cancers.
However, the company, first of all, denied the allegations in submitting to the SEC. According to FBI Special Agent David Hulser, the document contained “several false and deceptive statements.”
An investigation discovered former leaders with the enterprise who had left knew they had no longer been complying with guidelines before the news reports, however chose to lie beside. The FBI report states that those leaders additionally omitted different crucial facts from the investigators.
Lumber Liquidators has for the reason that advanced product safety efforts and has been working with the Consumer Products Safety Commission on a corrective action plan.
