Feds Search Lumber Liquidators' Offices
Toano, VA, Sep. 27, 2013 -- The corporate offices of Lumber Liquidators as well as one of its retail stores in Virginia were searched by federal official on Thursday.
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According to a local NBC affiliate, the searches were related to a potential violation of the Lacey Act, which covers the importation of illegally harvested wood.
The searches were reportedly conducted by Department of Homeland Security and Immigration and Customs Enforcement.
Lumber Liquidators stock plunged on the news and was down more than 10% in early trading Friday.
In the wake of the search, Lumber Liquidators issued a press release, which didn't address any potential violations. It contained an explanation of how the firm sources and monitors the wood used in its flooring.