TOANO, VA - Lumber Liquidators says it stands "by every single plank of wood and laminate we sell all around the country," and refutes claims that it has been deliberately selling laminate flooring in California that exceeds CARB regulations for formaldehyde emissions.

60 Minutes said it randomly tested packages of Lumber Liquidators' Chinese-made flooring sold in California, Virginia, Texas, Illinois and Florida and found high levels of formaldehyde emissions, despite the fact the packages were marked CARB-compliant. High levels of formaldehyde have been linked to cancer.

Lumber Liquidators' stock dropped Monday following the "60 Minutes" probe on March 1.

In a statement issued March 2, Lumber Liquidators said,"We believe that 60 Minutes used an improper test method in its reporting that is not included in CARB’s regulations and does not measure a product according to how it is actually used by consumers. Our laminate floors are completely safe to use as intended. In our attempt to be fair and transparent, we provided significant testing results to 60 Minutes, including the results of the random testing performed on products from each of our laminate suppliers. We also went to great lengths to document issues between the validated test method and that used by 60 Minutes. Our Chairman addressed the differences and our position on the test methodology but 60 Minutes chose not to include it."

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Lumber Liquidators also questioned the validity of the show's interviews with managers at some of the Chinese factories. "After becoming aware of the nature and content of the 60 Minutes story, we immediately reached out to the Chinese suppliers included in the story. The suppliers have confirmed that all products provided to Lumber Liquidators have been and are CARB compliant. The suppliers could not verify the identity of the individuals appearing in the videos. One of the suppliers featured questioned whether the product shown was actually from its factory."

Lumber Liquidators added that it randomly tests its six laminate flooring suppliers in China.

During a conference call last week, Lumber Liquidators' CEO Robert Lynch also acknowledged that the company will likely face criminal charges by the Department of Justice for allegedly importing illegally harvested wood, a violation of the Lacey Act.