Lumber Liquidators Holdings, Inc.
LUMBER LIQUIDATORS FRAUD INVESTIGATION ALERT – Andrews & Springer LLC Announces That A Securities Fraud Class Action Has Been Filed By A Law Firm Against Lumber Holdings Liquidators, Inc. - LL
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announces that a securities fraud class action lawsuit has been filed by another law firm on behalf of shareholders of Lumber Liquidators Holdings, Inc. (NYSE: LL) (“Lumber Liquidators” or the “Company”) for possible corporate misconduct and violations of securities laws.
A copy of the complaint is available from the Court or from Andrews & Springer LLC. If you currently own shares of Lumber Liquidators and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/lumber-liquidators-class-action or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, from February 22, 2012 through July 9, 2014, Lumber Liquidators and its senior executives made fraudulent and misleading statements violating federal securities laws.
On September 27, 2013, the Wall Street Journal reported that federal authorities from the U.S. Justice Department and Department of Homeland Security executed search warrants and raided two of the Company’s facilities in Virginia. As a result of the raids, Lumber Liquidators revealed to the public that the Department of Justice is taking into consideration filing criminal charges against Lumber Liquidators for violating certain provisions of the Lacey Act which bans the import and trade of illegally sourced wood products. Shortly after the raids were announced, Lumber Liquidators’ stock price dropped 9.3%.
On March 1, 2015, 60 Minutes and reporter Anderson Cooper released a report on television that alleged that Lumber Liquidators concealed the fact that certain laminate flooring contained levels of formaldehyde 13 times higher than the safe and legal emission levels. Formaldehyde, a colorless and odorless chemical compound, has been traced to causing myeloid leukemia and other cancers at high levels. According to the 60 Minute report, many of Lumber Liquidators’ products were fraudulently mislabeled as being “compliant” legal standards but were not.
As a result of the 60 Minutes report, Lumber Liquidators’ share price fell 25% on high volume on March 2, 2015, causing millions in investor losses.
Yesterday, on March 4, 2015, CNN Money reported that U.S. Senator Bill Nelson sent a letter to various federal agencies demanding them to open an investigation into whether Lumber Liquidators has made false marketing claims about the safety of its products.
A Lumber Liquidators shareholder represented by another law firm has filed a class action complaint against Lumber Liquidators for federal securities fraud. The complaint was filed in the United States District Court, Eastern District of Virginia, Case No. 4:13-cv-00157.
If you currently own shares of Lumber Liquidators and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/lumber-liquidators-class-action or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.