Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and the enforcement of federal antitrust laws, is investigating potential claims against the Board of Directors of Lumber Liquidators Holdings, Inc. ("Lumber Liquidators" or the "Company") LL -0.39% concerning possible breaches of fiduciary duty and other violations of law.
The investigation concerns actions by Lumber Liquidators' Board of Directors that have caused the Company to allegedly violate the federal Lacey Act relating to the allegedly illegal importation of lumber from China and Russia. Specifically, a report issued by Environmental Investigation Agency details a three year investigation of the Company wherein evidence shows that the Company knowingly bought millions of square feet of oak and birch wood that originated in protected forests in far eastern Russia through a Chinese-owned supplier. Such evidence is a violation of the Lacey Act, a federal conservation statute that makes it unlawful to import or sell certain wood types to curb illegal logging.
On September 26, 2013, Lumber Liquidators' headquarters in Toano, Virginia and another location in Richmond were raided by the Immigration and Customs Enforcement's Homeland Security Investigations unit, together with the U.S. Fish and Wildlife Service and the Justice Department. The Company has since confirmed the federal investigation involved imports of wood flooring products.
Shareholders interested in seeking to recover damages on behalf of Lumber Liquidators and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
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Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action and derivative litigation. The firm is focused on providing exemplary legal services in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you hold LL shares and you would like to discuss your legal rights, visit www.faruqilaw.com/LL. You can also contact us by calling Michael J. Hynes free at 877-247-4292 or at 215-277-5770 or by sending an e-mail to firstname.lastname@example.org.
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