Federal agencies say formaldehyde is given off by "select" lines of laminate flooring made in China between 2012 and 2014, and sold by Lumber Liquidators. Its likelihood to cause cancer is extremely small, however.

Lumber Liquidators' (NYSE: LL) says due to "mounting industry concerns relating to laminate products sourced from China, the Company this week decided to suspend sales of all laminate flooring sourced from China."

Despite a sales rise, Lumber Liquidators first quarter net income fell amid legal costs and the fallout from customer formaldehyde concerns after a 60 Minutes expose. CFO Daniel E. Terrell was let go. Separately Lumber Liquidators says it will not source flooring in China.

Lumber Liquidators is facing a federal class-action lawsuit for allegedly orchestrating a "campaign of misinformation," including charges it provided unreliable kits to homeowners seeking to test for formaldehyde emissions from their laminate flooring.

Senator Bill Nelson has asked for a federal probe of Lumber Liquidators after a 60 Minutes report that some of its laminate flooring had dangerously high levels of formaldehyde emissions.

In light of Sunday night’s 60 Minutes episode featuring Lumber Liquidators Holdings, Inc., the Company is providing the following statement: “Lumber Liquidators is a leader in safety, as evidenced by our track record of providing our wide range of products to two million satisfied customers across America."

Lumber Liquidators is refuting claims that it has been deliberately selling laminate flooring in California that exceeds CARB regulations for formaldehyde emissions.

A report on Lumber Liquidators by 60 Minutes TV news today said the wood flooring company was selling laminate flooring in California that exceeded CARB rules for formaldehyde content. Charges of alleged LACEY act import violations were also recounted.

Lumber Liquidator's net income was down 17%, in the fourth quarter compared to 2013, amid reports that the company may face criminal charges for Lacey Act violations.

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