LL Settles Class-Action Suits in Chinese Laminate Case for $36M

Toano, VA, October 25, 2017-Lumber Liquidators and a proposed class of plaintiffs in the Formaldehyde MDL (MDL 2627) led by Cohen, Milstein, Sellers & Toll PLLC; Hagens Berman Sobol Shapiro, LLP; Cotchett, Pitre & McCarthy, LLP; and a proposed class of plaintiffs in the Durability MDL (MDL 2743) led by Robertson & Associates, LLP and Whitfield, Bryson & Mason LLP, have announced the entry into a Memorandum of Understanding ('MOU') to settle all litigation related to the Chinese-manufactured laminate flooring previously sold by Lumber Liquidators pending in the two Multi-District Litigations in the Eastern District of Virginia.

Under the terms of the MOU, the company will contribute $22 million in cash and provide $14 million in store-credit vouchers for an aggregate settlement of $36 million to settle all claims brought on behalf of purchasers of the Chinese-manufactured laminate flooring sold by the company between January 1, 2009and May 31, 2015.

The MOU is subject to the execution of a definitive settlement agreement, court approvals, and approval by the Plaintiffs' Co-Lead Counsel in the two cases and Lumber Liquidators' board among other contingencies.

The company's execution of the MOU does not constitute an admission by the company of any fault or liability. The parties have agreed to settle these matters to avoid the expense and uncertainty of continuing the litigation. Out of an abundance of caution, the company discontinued the sale of the relevant product in May 2015.