Back in 2015 the CBS television news show 60 Minutes exposed Lumber Liquidators as selling flooring with higher than permitted levels of formaldehyde. Since then there have been numerous class action lawsuits; the company has now settled the end of those pending suits…
Lumber Liquidators settles class-actions related to China-made products
Lumber Liquidators Holdings Inc said it would settle all pending litigation related to the China-made flooring products sold by the hardwood flooring retailer for an aggregate settlement amount of $36 million.
The company said it signed agreement with complainants in two cases in the Eastern District of Virginia to contribute $22 million in cash and $14 million in store credit vouchers.
The $36 million will be used to settle all claims brought on behalf of the buyer of the China-sourced products sold by the company between Jan. 1, 2009 and May 31, 2015, the company said.
Lumber Liquidators ran into losses after CBS’s “60 Minutes” television news program alleged in March 2015 that the company’s flooring products contained high levels of formaldehyde, a cancer-causing chemical, leading to class-action lawsuits. reut.rs/2izMp5l