[ad_1]
WASHINGTON – Lumber Liquidators has spent $ 33 million on federal fraud charges that have accused the company of falsely claiming that its laminate flooring made in China meets emissions standards. of formaldehyde.
The Toano, Virginia-based company is one of the largest flooring retailers in the United States. His criminal and civil fraud charges, related to statements made in 2015, were announced Tuesday by the Department of Justice and the Securities and Exchange Commission.
Under an agreement, the Justice Department will suspend the lawsuits against Lumber Liquidators and will dismiss the charges after three years, provided the company takes corrective action.
The CEO of Lumber Liquidators, Dennis Knowles, said in a statement that the company had made radical changes "and will continue to take action with the new management team to improve Lumber Liquidators."
[ad_2]
Source link