Bad News Sends Lumber Liquidators Stock in Plunge

New York, NY, Feb. 26, 2015 -- Shares of Lumber Liquidators plunged more than 25% Wednesday after the company reported bad news on two fronts.

In addition to an earnings miss, management said on a conference call that the 60 Minutes news program will feature the company and the segment will be negative.

"We now believe the news program '60 Minutes' will feature our company in an unfavorable light with regard to our sourcing and product quality, specifically relating to laminates," said CEO Rob Lynch.

Also, the company disclosed in a public filing with the Securities and Exchange Commission that the Department of Justice may file criminal charges against the company related to alleged violations of the Lacey Act.

The Lacey Act, among other things, prohibits selling wood that has been illegally harvested.


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