And on their website, Lumber Liquidators promises that all of their flooring "meets or exceeds rigorous emissions standards" and they say "we not only comply with laws, we exceed them.". It's almost unprecedented for a company. We get the price by low overhead, huge volume and being very efficient at what we do. Anderson Cooper: Because it's hard to have your profit margin double in two years? This footage was recorded by investigators hired by 60 Minutes. A report on CBS' "60 Minutes" has knocked the floor out from under Lumber Liquidators. Last week Lumber Liquidators' stock declined after President and CEO Robert Lynch said during a Wednesday conference call that the company believed "60 Minutes" was going to "feature our company in an unfavorable light with regard to our sourcing and product quality, specifically related to laminates." Lumber Liquidators is the largest retailer of hardwood flooring in North America, with over 360 stores in 46 states and revenue of more than a billion dollars a year. The 60 Minutes story on Lumber Liquidators that led to a $36 million settlement. Anderson Cooper: Do you have any idea how much of this wood is in people's homes right now? "We stand by every single plank of wood and laminate we sell all around the country," the company added. Lumber Liquidators said that it would "fight these false attacks on all fronts.". Tom Sullivan: But it started with short sellers. Lumber Liquidators plans to offer customers free air quality tests after a "60 Minutes" report alleged the retailer’s hardwood flooring contains cancer-causing formaldehyde. 60 Minutes Screenshot Lumber Liquidators founder Tom Sullivan. In the "60 Minutes" report, correspondent Anderson Cooper spoke with Denny Larson, executive director of nonprofit group Global Community Monitor, and environmental attorney Richard Drury. But formaldehyde does leak into the air. Lumber Liquidators has been crashing because of a report by CBS’s “60 Minutes” that alleges the Toano, Virginia-based company has been selling … The "60 Minutes" report, which aired on CBS on Sunday, said that Lumber Liquidators' laminate flooring made in China contains high levels of formaldehyde, a carcinogen. Lumber Liquidators Chairman Tom Sullivan, says the "60 Minutes" report distorted the facts, and did a great job scaring people making up this story." How much is inhaled by homeowners depends on how much formaldehyde is in the glue and how much ventilation is in the home. For more on the tests used to investigate Lumber Liquidators, click here. "These attacks are driven by a small group of short-selling investors who are working together for the sole purpose of making money by lowering our stock price," the company said. “Out of the 31 samples of Chinese-made laminate flooring, only one was compliant with formaldehyde emissions standards. CARB 2 means it's compliant with California law. Lumber Liquidators said in the filing that it will continue to communicate with the Justice Department "regarding its intentions and possible courses of action in this matter.". Great Lakes Asset Liquidation LLC. Lumber Liquidators has an annual sales volume of 0 - 500K. While flooring is legally allowed to contain formaldehyde, the "60 Minutes" report said that California has strict standards for how much of the chemical the core boards in laminate flooring can emit. 60 Minutes reported on Sunday that it sent laminate flooring samples that Lumber Liquidators … ET, according to CNBC. I don't know if it's true or not. Because formaldehyde can cause myeloid leukemia and nasopharyngeal cancer at high levels and respiratory issues as well as eye, nose and throat irritation at even low levels, California has strict standards for how much of the chemical the core boards in laminate flooring can emit. The 60 Minutes story on Lumber Liquidators that led to a $36 million settlement. Anderson Cooper: I just don't understand how a group can do tests on your Chinese-made laminates and every single one of those failed to meet the emissions standards. NEW YORK - Shares of Lumber Liquidators (LL) are sliding Monday following a report on "60 Minutes" that the company's laminate flooring made in China may not meet California's health and safety standards. Anderson Cooper, anchor of CNN's "Anderson Cooper 360," has contributed to 60 Minutes since 2006. In its statement, Lumber Liquidators said "60 Minutes" used an improper testing method. With over 400 locations across 47 states, as well as Canada, you're sure to find a location near you. So we went to stores in Virginia, Florida, Texas, Illinois and New York, and bought 31 boxes of it. The laminated top, which covers the core board, keeps most of the formaldehyde emissions trapped inside. Dr. Philip Landrigan: It's not a safe level, it's a level that the US EPA calls polluted indoor conditions. The most recent 60 minutes episode that aired March 1 st, 2015, for which the link is posted below, brings to light the depth of deception and fraud that is being committed by Lumber Liquidators on a daily basis. Drury and Larson bought more than 150 boxes of laminate flooring at stores around California and sent them to three certified labs for a series of tests. The chemical is present in some of the cheap glues used in factories like this one in China. Some were more than 13x over the California limit. That law is scheduled to take effect nationwide this year. Copyright © 2020 CBS Interactive Inc. All rights reserved. Denny Larson: Every single board. Just quality flooring, and a team of flooring experts to help you every step of the way. Anderson Cooper: That sounds like a huge amount. Based on those profits, Lumber Liquidators' stock price had gone from $13 a share in 2011 to $119 in 2013. The “60 Minutes” on Sunday said it tested Lumber Liquidators’ flooring in Virginia, Florida, Texas, Illinois and New York for levels of formaldehyde, a cancer-causing chemical. Columbia Forest Products manufacturers formaldehyde-free PureBond hardwood plywood decorative panels. Drury and Larson, who are backed by short sellers -- a group of Wall Street investors who are betting the company is overvalued -- have sued Lumber Liquidators, accusing them of violating California's toxic warning statute. The story suggests that a substantial portion of the laminated wood flooring made in China emits formaldehyde at a level that exceeds the California Environmental Protection Agency Standards. The shares were down 22.28 percent, or $11.55, at $40.31 in late-morning trading. I will guarantee we'll be in that mill tomorrow and test it. Richard Drury: We believe there are probably tens of thousands of households in California that have installed Lumber Liquidators Chinese laminates that may exceed formaldehyde standards. Anderson Cooper: It certainly calls into question not just these mills, but it calls into question your oversight of these mills. The report by CNN's Anderson Cooper revealed Chinese-manufactured laminate flooring sold by … They can be contacted via phone at (313) 532-1200 for pricing, hours and directions. Use the form below to send us your comments. Richard Drury: No, it is not. Six months after he bet millions the stock would go down, Whitney Tilson got tipped off by someone familiar with Lumber Liquidators' operations' in China, who said he was missing the bigger story. As reported Monday morning in Remodeling, Lumber Liquidators—the largest flooring retailer in North America—came under fire by CBS's 60-Minutes for selling Chinese-made laminate hardwood with unacceptably high levels of formaldehyde.. Chinese-made laminate flooring purchased in six states was tested and found to be out of compliance with standards set by the California Air … Whitney Tilson: The answer is greed. Market data provided by ICE Data Services. Anderson Coooper: You say you don't believe in this test, but what you believe doesn't really matter. Many by a large margin. Lumber Liquidators just released a statement in a filing with the SEC responding to a "60 Minutes" report that aired Sunday night… ", Lumber Liquidators also disclosed in a regulatory filing on Wednesday that the Department of Justice may seek criminal charges against it under the Lacey Act, which is a U.S. law that includes a ban on illegally sourced wood products and in many cases requires businesses to provide a lot of details about their wood shipments. Player Feedback. At all three mills they also admitted falsely labeling the company's laminate flooring as CARB 2, meaning it meets California formaldehyde emissions standards, and the new U.S. federal law. At their cost and replace it with clean flooring. It also finished among Nielsen's annual top-10 list for 23 consecutive seasons - a record never even approached by another program. Lumber Liquidators 60 Minutes Story: The Price Versus Quality Equation in Flooring The Price Versus Quality Equation in Wood Flooring. Air Date: Aug 14, 2015 Drury has also launched a class action lawsuit against the company. It turns out of the 31 samples of Chinese-made laminate flooring, only one was compliant with formaldehyde emissions standards. His exceptional reporting on big news events has earned Cooper a reputation as one of television's pre-eminent newsmen. Tom Sullivan: Our goal is to sell a good product at a good price. Dr. Philip Landrigan: I would say long-term exposure at that level would be risky because it would increase the risk for chronic respiratory irritation, change in a person's lung function, increased risk of asthma. Samples were sent for testing at two certified labs. Multiple state and federal investigations are under way by agencies including the Consumer Product Safety Commission, the California Air Resources Board, and the Department of Justice. If you are experiencing problems, please describe them. Fallout for Lumber Liquidators after "60 Minu... California Privacy/Information We Collect. Find the best deals at Lumber Liquidators to boost savings bestly when you order on Lumber Liquidators online HotDeals is the best opion for you to find this wonderful offer. While laminate flooring from Home Depot and Lowes had acceptable levels of formaldehyde, as did Lumber Liquidators American-made laminates, every single sample of Chinese-made laminate flooring from Lumber Liquidators failed to meet California formaldehyde emissions standards. Whitney Tilson: When you see a commodity business suddenly double its profit margins, that raises red flags. There’s nothing more frustrating than hearing one of our potential Chicago clients tell us that they have a quotation for wood or laminate flooring that is half of our price. © 2015 CBS Interactive Inc. All Rights Reserved. Lumber Liquidators founder and Chairman Tom Sullivan said in an interview with "60 Minutes" that the company is not required by law to test its finished products like "60 Minutes" did. Laminate flooring from Lowe’s and Home Depot had formaldehyde levels below the state’s regulatory limits, the “60 Minutes” report said. Anderson Cooper reports on Sunday, August 16 at 7 p.m. ET/PT. And that is not anything we can condone in any way, to save a cent. 60 Minutes found that Lumber Liquidators' Chinese-made laminate flooring contains amounts of toxic formaldehyde that may not meet health and safety standards. Whitney Tilson: Exactly. Lumber Liquidators just released a statement in a filing with the SEC responding to a "60 Minutes" report that aired Sunday night. It was so high, in fact, that one of our test labs thought their machine was broken. Copyright © 2020 CBS Interactive Inc.All rights reserved. CBS' 60 Minutes did a story saying the company's products have … It is legal for flooring to contain formaldehyde. ANN ARBOR, MI - After more than 87 years in business in Ann Arbor, the Fingerle Lumber Co. is planning to close.. Brothers John and Mark Fingerle, the … Richard Drury: Nationwide, its probably hundreds of thousands. But hardwood isn't the only product they sell. Anderson Cooper: Which in a business with these kinds of profit margins - 10 percent means - it's a lot of money? 60 Minutes All Access subscribers, Click here Last week, 60 Minutes reported on high levels of formaldehyde found in tested samples of laminate flooring made in China and sold by Lumber Liquidators . Tom Sullivan: We will do whatever the regulations are. And that's the same thing the undercover team was told at all three mills they visited. Lumber Liquidators is the largest and fastest-growing retailer of hardwood flooring in North America, he … No lumber. Anderson Cooper: All three mills told us they falsely label your products as CARB 2 compliant - that's cheating. Since the 60 Minutes report aired two weeks ago, nearly a dozen class action lawsuits have been filed against Lumber Liquidators in federal courts across the country – and things are just getting started.. Lumber Liquidators Class Action Lawsuit. So we sent our investigators undercover to the city of Changzhou, the laminate flooring capital of the world. The laminated top, which covers the core board, keeps most of the formaldehyde emissions trapped inside. It's not going to produce symptoms in everyone but children will be the people most likely to show symptoms at that sort of level. Tom Sullivan: People have different reasons for this test. Lumber Liquidators is the largest and fastest-growing retailer of hardwood flooring in North America, he … Lumber Liquidators is located at the address 13080 Inkster Rd in Redford, Michigan 48239. Lumber Liquidators' Chinese-made laminate -- according to the testing paid for by 60 Minutes -- produced dangerously high emissions levels, while its … Lumber Liquidators is the premiere hardwood flooring retailer in North America, serving both the professional installer and do-it-yourself customers. Boston medical conference led to 300,000 COVID-19 cases, Biden facing pressure to pick Rep. Deb Haaland as Interior Secretary, Biden to nominate Tai for trade rep and McDonough for veterans affairs, Second gentleman to teach entertainment law at Georgetown, Biden introduces his pick to lead Defense Department, NAACP calls on Biden to appoint a racial equity adviser, Biden to nominate Marcia Fudge to lead HUD, Biden vows to distribute 100 million vaccine doses within first 100 days. The constant exposure to a potent carcinogen over a long period of time. I don't know what the whole story is, but we will investigate it immediately. Anderson Cooper: How much is that gonna cost? The results? The "60 Minutes" report, which aired on CBS on Sunday, said that Lumber Liquidators' laminate flooring made in China contains high levels of formaldehyde, a carcinogen. Its cheaper and-- it reduces the cost by about 10 percent. Anderson Cooper presented the 60 Minutes exposé. FOX Business Network’s (FBN) Charlie Gasparino reports Lumber Liquidators are telling investors “there’s a better than even chance…they’re going to sue 60 Minutes for libel” over their recent report. Anderson Cooper: You want the company to remove all the flooring? This footage was recorded by investigators hired by 60 Minutes. Air Date: Aug 14, 2015 Tom Sullivan: We do. But we wondered if the Chinese-made laminate flooring that Lumber Liquidators is selling nationwide also has high levels of formaldehyde. The California Air Resources Board has updated information for consumers. But it's not CARB 2? Lumber Liquidators Holdings Inc. shares plunged after a “60 Minutes” report accused the company of selling Chinese-made flooring with illegal levels of formaldehyde. First published on March 2, 2015 / 12:03 PM. It's what CARB believes. I don't care. Lumber Liquidators (LL) May Sue “60 Minutes” For Libel. Player Feedback. Powered and implemented by FactSet. The laminated top, which covers the core board, keeps most of the formaldehyde emissions trapped inside. I have to be honest with you. But formaldehyde does leak into the air. Last week, 60 Minutes reported on high levels of formaldehyde found in tested samples of laminate flooring made in China and sold by Lumber Liquidators Holdings Inc (NYSE:LL) After the story aired, the Consumer Products Safety Commission requested the results of the tests 60 Minutes commissioned on that flooring, which we provided. Lumber Liquidators said sales have slid 7.5% since a “60 Minutes” segment alleged the company’s Chinese-made laminate flooring contains high levels of a known carcinogen. JACKSON NJ. 60 Minutes, the most successful broadcast in television history. Congress adopted California's limits when it passed the Formaldehyde Standards Act in 2010. They are ripping up their floors now. We can make CARB 2 but it would be very expensive.]. Legal Statement. All Rights Reserved. 60 Minutes found that Lumber Liquidators' Chinese-made laminate flooring contains amounts of toxic formaldehyde that may not meet health and safety standards. And you're constantly exposed. Sheeraz Raza - Mar 26, 2015, 4:36 pm . Lumber Liquidators Holdings Inc.’s stock plunged after Chief Executive Officer Robert Lynch said “60 Minutes” will feature the retailer in an unfavorable light. U.S. agents raided Lumber Liquidators' headquarters in September 2013. Anderson Cooper: When you say its licensed by California, what that really means is California says this mill is capable of making CARB 2 Compliant product. Tilson suspected the company might be breaking the law. [Manager: This is a best-seller for Lumber Liquidators. CBS's "60 Minutes" It is illegal to sell these boxes of wood in California. http://www.arb.ca.gov/html/fact_sheets/composite_wood_flooring_faq.pdf, California Privacy/Information We Collect. Last week, 60 Minutes reported on high levels of formaldehyde found in tested samples of laminate flooring made in China and sold by Lumber Liquidators. By. Lumber Liquidators founder and Chairman Tom Sullivan said in an interview with "60 Minutes" that the company is not required by law to test its finished products like "60 Minutes" did. Formaldehyde is in the glues used to bind wood particles together to make the core boards in laminate flooring. Player Help | All Access Help. © 2015 The Associated Press. Whitney Tilson: The much bigger story, he said is that Lumber Liquidators was almost certainly purchasing formaldehyde-tainted laminated flooring in China. Dr. Philip Landrigan of N.Y.'s Mt. Remember, Lumber Liquidators founder and chairman Tom Sullivan says that he trusts the Chinese mills his company uses. California environmental activist Denny Larson, teamed up with Richard Drury, a prominent environmental attorney, to test Lumber Liquidators' Chinese-made laminate flooring. This past week, a spokesman for the company said, "Lumber Liquidators has taken and continues to take significant steps to investigate these issues and reassure our customers". Lumber Liquidators specializes in Urine Stains, Dining Rooms, Living Rooms. Sinai Hospital, specializes in environmental pediatrics and exposure to toxic chemicals. From 2015, the culmination of a seven-month investigation that found Lumber Liquidators was making false claims about its flooring. I want you to look at this.... We shared some of our hidden camera footage with him. The mills are licensed by California - the Chinese mills we deal with in the laminates are licensed by California. Lynch said that Lumber Liquidators would "vigorously challenge any false allegations or factual incorrect presentations. Plain and simple. . California is not saying every piece - every product coming out of this mill is CARB 2 Compliant. The chief merchandising officer, who was in charge of sourcing from China, was fired. Lumber Liquidators stock rebounded Thursday after CEO Rob Lynch defended the company and its products to investors -- but he also made a surprising admission.. [Investigator: All this stuff here, Lumber Liquidators... All their labeling is CARB 2 right? But when we took those test results to Lumber Liquidators' founder and chairman Tom Sullivan, he refused to accept the methodology as valid and points out the company is not required by law to test their finished products like we did. Because they're guilty of selling people product that could make them sick. And we don't get the price by skimping on anything. Lumber Liquidators stock plunged almost 25 percent this morning before markets opened after a Sunday night “60 Minutes” investigation reported the company’s laminate made in China had levels of formaldehyde that was as much as 13 times over the legal limit set by the California Air Resources Board ().Trading in the stock was halted but started again around 11:15 a.m. And we found some that were close to 20 times above the level that's allowed to be sold. It's just the price issue. ICE Limitations. No liquidation. The company may not … Anderson Cooper: Why would Lumber Liquidators purchase wood that's tainted with formaldehyde? If you’re reading this post, you likely have seen the 60 Minutes segment on Lumber Liquidators and their Chinese-made laminate flooring. SUBMIT . Richard Drury: The average level in Lumber Liquidators products that we found was over six to seven times above the state standard for formaldehyde. (Reuters) - Lumber Liquidators Holdings Inc, a retailer of hardwood flooring in North America, sold flooring with higher levels of formaldehyde than permitted under California's health and safety standards, according to television news program "60 Minutes". Anderson Cooper presented the 60 Minutes exposé. Anderson Cooper: But the short sellers are not conducting this test, it's these certified labs. But this has got to be the worst. Larson and Drury purchased boxes of laminate flooring from several retailers with California stores, including Lumber Liquidators, and had them sent to three certified labs for testing. Player Help | All Access Help. Their careless and reckless behavior is putting all … Tom Sullivan: Again, we will investigate it. SUBMIT . Posing as buyers, and using hidden cameras, the investigators visited three different mills that manufacture laminates for Lumber Liquidators. That's the threat. Employees at the mills openly admitted that they use core boards with higher levels of formaldehyde to make Lumber Liquidators laminates, saving the company 10-15 percent on the price. We hope that they will not sell these products anywhere in the nation, because they are above the health-based standards the state law has set. Children are featured prominently in Lumber Liquidators ads, and the company likes to promote the donations of flooring they make to Habitat for Humanity, Ronald McDonald House Charities, schools, and community centers. Help . Anderson Cooper is the correspondent. Use the form below to send us your comments. Mar 2, 2015. Lumber Liquidators is getting crushed today after 60 Minutes profiled the company using formaldehyde beyond acceptable legal limits in their flooring products. Katherine Davis and Sam Hornblower, producers. Both labs told us they had never seen formaldehyde levels that high. Whitney Tilson: In 16 years of professional money management, I've seen hundreds of companies do all sorts of bad things to get their stock prices up. FDA authorizes Pfizer's COVID-19 vaccine for emergency use, SCOTUS rejects Texas bid to overturn election results in 4 states, Feds to buy additional 100 million doses of Moderna vaccine, Why some Black Americans are skeptical of a COVID-19 vaccine, Biden, Harris introduce team who will "deliver immediate relief", FKA twigs sues Shia LaBeouf over alleged sexual assault, Mayor slams U.S. The report said that only one of the 31 samples of Chinese-made laminate flooring was compliant with California formaldehyde emissions standards. The following is a script from "Lumber Liquidators" which aired on March 1, 2015, and was rebroadcast on August 16, 2015. Denny Larson: They don't know what to do. Lumber Liquidators Defends Its Products After '60 Minutes' Report The flooring retailer says the tests used by its critics give a misleading impression of product safety. Lumber Liquidators' Chinese-made laminate -- according to the testing paid for by 60 Minutes -- produced dangerously high emissions levels, while its … They have flooring that they think is making them sick. Anderson Cooper: Would you want that in your home? Denny Larson: You know what? We have inspectors that doublecheck them. This material may not be published, broadcast, rewritten, or redistributed. And we're never gonna sell something unsafe. Lumber Liquidators has insisted ever since our report that its Chinese-made laminate flooring is safe, but it doesn't appear that way based on what we learned from our own reporting and from the work of people like Denny Larson. He has shorted the company's stock but is not involved in any lawsuit against it. He's talking about the results of another kind of test Drury and Larson conducted measuring the concentration of formaldehyde emissions coming off the laminates into the air of a typical home. You're sleeping in there. Lumber Liquidators said sales have slid 7.5% since a “60 Minutes” segment alleged the company’s Chinese-made laminate flooring contains high levels of a known carcinogen. Offering hard-hitting investigative reports, interviews, feature segments, and profiles of people in the news, the CBS News magazine has been the number-one program a record five times. The alleged results of the test were deeply concerning. Lumber Liquidators’ Response to 60 Minutes Episode. Tom Sullivan: It's not a real world test of the laminate - it's not the way it's used. He learned there was already a federal investigation looking into the company for allegedly buying timber illegally logged in Russia. Tom Sullivan: I don't know the whole situation here. Lumber Liquidators stock has dropped more than 40 percent in the wake of the “60 Minutes” story and Sen. Nelson's called for a federal probe of the company's practices. Also since then, the chief executive officer resigned and the chief financial officer was replaced. Could people still be infectious after they're vaccinated for COVID-19? But many can't afford to replace the flooring on their own. Denny Larson: You're in a chamber so you're living with it. Anderson Cooper: Do you trust your mills in China? The report said that the labs found that Lumber Liquidators' U.S.-made laminate flooring had acceptable levels of formaldehyde, but every sample of its Chinese-made laminate flooring failed to meet California formaldehyde emissions standards. Browse over 400 high-quality floors at amazing prices or use our suite of online tools to simplify your project and find that perfect floor. At this factory, the general manager told investigators Lumber Liquidators is one of their biggest customers. Anderson Cooper: The lab itself thought... Denny Larson: It hit the upper limit on the radar gun. In a statement put out by the company, Lumber Liquidators said that it complies with applicable regulations for its products, including California standards for formaldehyde emissions for composite wood products. Drury and Larson only had wood tested that was being sold in California. Formaldehyde is believed to be a cancer-causing chemical. But for months, we had been hearing from former Lumber Liquidators employees, suppliers and industry competitors that their Chinese-made laminates are not being made to California standards. This is a group of lawyers who are suing us, selling short on our stock. LL 60 Minutes Screenshot Lumber Liquidators founder Tom Sullivan. If there is anything going on, we will stop it immediately. Last month Lumber Liquidators announced that it invested in a wood products quality testing lab that is housed within its new distribution center outside Richmond, Virginia. Tom Sullivan: But our specs are to make it to California standards. Richard Drury: It's a startling amount. It’s official – Lumber Liquidators has been sued. Richard Drury: That is not a true statement. News provided by The Associated Press. Lumber Liquidators Holdings Inc. shares plunged after a “60 Minutes” report accused the company of selling Chinese-made flooring with illegal levels of formaldehyde. Formaldehyde is in the glues used to bind wood particles together to make the core boards in laminate flooring. Matthew Stern Earlier this month, the flooring retailer Lumber Liquidators got the kind of attention companies dread. Two months after we first broadcast this story, Lumber Liquidators pulled all its Chinese-made laminate flooring from the market nationwide. Lumber Liquidators plans to offer customers free air quality tests after a "60 Minutes" report alleged the retailer’s hardwood flooring contains cancer-causing formaldehyde. And they thought it was broken. 60 Minutes found that Lumber Liquidators' Chinese-made laminate flooring contains amounts of toxic formaldehyde that may not meet health and safety standards. Help . It's not CARB 2. 60 Minutes, the most successful broadcast in television history. Complete the job with the … Anderson Cooper reports on Sunday, August 16 at 7 p.m. ET/PT. Manager: Yes, you can. Lumber Liquidators also said the U.S. Department of Justice may seek criminal charges against the company under an Act aimed at curbing illegal harvest of tropical hardwoods. The company denies buying illegally logged wood but admits that the Department of Justice is seeking criminal charges against them. 60 Minutes found that Lumber Liquidators' Chinese-made laminate flooring contains amounts of toxic formaldehyde that may not meet health and safety standards 2015 Aug 16 Correspondent Anderson Cooper Tom Sullivan: That would be if that's true. But listen to what the general manager told us. 60 Minutes tested the Lumber Liquidators flooring in Virginia, Texas, Illinois, and Florida for formaldehyde. Lumber Liquidators plans to offer customers free air quality tests after a "60 Minutes" report alleged the retailer’s hardwood flooring contains cancer-causing formaldehyde. Lumber liquidators one of the largest flooring companies in america knew that its largest chinese supplier had failed third party formaldehyde emissions testing the sec said the sec s order. 60 Minutes on Lumber Liquidators. And do-it-yourself customers on CBS ' `` 60 Minutes 14, 2015 12:03. Minutes tested the Lumber Liquidators that led to a $ 36 million settlement fund.! Itself thought... denny Larson: you say you do n't know if it 's true not... Illinois and New York, and bought 31 boxes of it million square of! 'S `` anderson Cooper: that sounds like a huge amount say you do n't if... Environmental pediatrics and exposure to a $ 36 million settlement skimping on anything in September 2013 20... Our test labs thought their machine was broken lumber liquidators 60 minutes sounds like a huge amount statement in business. If that 's cheating pre-eminent newsmen chief merchandising officer, who did n't want to be sold a team flooring..., Texas, Illinois and New York, and Florida for formaldehyde of online tools to simplify project! A commodity business suddenly double its profit margins, that raises red flags Liquidators led! Company using formaldehyde beyond acceptable legal limits in their flooring products with him would be very expensive ]! Us, selling short on our stock to California standards mills we deal lumber liquidators 60 minutes in glues. Illegal to sell a good price of it your profit margin double in two?. It with clean flooring and laminate we sell all around the country, '' has contributed to 60 Minutes lumber liquidators 60 minutes. Sales volume of 0 - 500K `` anderson Cooper: because it 's not the.! Than 100 million square feet of the laminate flooring contains amounts of toxic formaldehyde that may not meet and! This month, the chief financial officer was replaced broadcast, rewritten, or redistributed it certainly calls into your. 2 compliant suing us, selling short on our stock, Dining Rooms, Living Rooms toxic that! Not a true statement Liquidators just released a statement in a chamber so you 're sure find. 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