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July 23, 2014
17:21 EDTLLLumber Liquidators calls lawsuit allegations 'flat-out false'
Lumber Liquidators issued the following statement in response to a lawsuit filed in California state court by the Global Community Monitor organization and Sunshine Park: "The allegations in this lawsuit concerning our product are simply flat-out false. Our product meets relevant environmental standards and undergoes rigorous, independent, third-party testing. More specifically, our internal testing and that conducted by third parties concluded that product levels fell well below the Proposition 65 'safe harbor' limits. Further, Lumber Liquidators' products are produced and independently tested to ensure compliance with the low emissions standards set by the California Air Resource Board (CARB). We apply these stringent California standards to products we sell nationwide... In short, all of our flooring meets the highest quality and environmental standards that's why we sell it, that's why we use it in our own homes, and that's why we are a market leader. We will not let factually inaccurate and legally flawed lawsuits filed by a party with a clear financial motive influence our approach to our business or our customers."
News For LL From The Last 14 Days
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March 26, 2015
15:45 EDTLLLumber Liquidators may file suit against '60 Minutes,' FBN's Gasparino says
In a tweet, Fox Business News' Charlie Gasparino said, "$LL execs emboldened to sue @60Minutes over report abt flooring safety post regulatory decision on testing more @FoxBusiness 323pm."
06:00 EDTLLStocks with implied volatility below IV index mean; LL CTRP
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March 25, 2015
14:49 EDTLLCPSC's emissions testing a positive for Lumber Liquidators, says Goldman
Goldman said the Chairman of the Consumer Products Safety Commission's decision not to replicate deconstructive tests but to test emissions is a positive for Lumber Liquidators. The firm said the deconstructive tests were an important component of the bear case and Lumber Liquidators says it has passed, based on its testing, emissions tests. Goldman rates Lumber Liquidators a Neutral with a $35 price target given significant gross margin pressures.
13:07 EDTLLCSPC test method positive for Lumber Liquidators, says Janney Capital
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12:52 EDTLLOn The Fly: Midday Wrap
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11:39 EDTLLCPSC announces active investigation of Lumber Liquidators
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10:26 EDTLLLumber Liquidators trading up sharply from session lows, levels to watch
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10:24 EDTLLLumber Liquidators up over 10% as CPSC call continues
The Consumer Product Safety Commission said it is actively investigating Lumber Liquidators, but will not use CARB-mandated testing of Lumber Liquidators flooring during its own investigation. CPSC Chairman Elliot Kaye reportedly said its investigation is "exclusive to Lumber Liquidators" for now, but could expand to other companies if information warrants. Kaye also reportedly said the options for Lumber Liquidators could include a recall and that CPSC would have to sue to enforce if voluntary recall is found to be needed but is not agreed to by the company. Lumber Liquidators shares are up 10.7% to $31.90 as the CPSC's call continues.
10:18 EDTLLCPSC says calls on Lumber Liquidators down 80% since right after 60 Minutes
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10:15 EDTLLCPSC chair says commission has 'different madate' than CARB
The CPSC will not use CARB-mandated testing of Lumber Liquidators flooring, the commission's chair stated on a call with the media.
10:11 EDTLLLumber Liquidators probe to take 'months, not weeks,' CPSC chair says
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10:06 EDTLLCPSC says actively investigating Lumber Liquidators, Bloomberg reports
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09:51 EDTLLLumber Liquidators March weekly 30 straddle priced for 13% movement
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09:15 EDTLLLumber Liquidators volatility elevated, CPSC planning teleconference CNBC
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08:21 EDTLLRegulator to hold Lumber Liquidators teleconference at 10:00, CNBC says
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March 24, 2015
05:49 EDTLLStocks with implied volatility movement; LL YUM
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March 23, 2015
09:09 EDTLLLumber Liquidators probe called for by Senator Schumer, AP reports
New York Sen. Chuck Schumer is asking federal authorities to investigate the safety of Lumber Liquidators' Chinese-imported wood laminate flooring and force recalls if needed, reported Associated Press. Reference Link
March 20, 2015
06:08 EDTLLStocks with implied volatility below IV index mean; LL YELP
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March 17, 2015
08:00 EDTLLLumber Liquidators price target lowered to $40 from $55 at Credit Suisse
Credit Suisse lowered Neutral rated Lumber Liquidators price target to $40 and reduced estimates to reflect weaker sales trends and uncertainty on how consumers will respond to the fallout over safety concerns. The firm does not believe the sales drop has to be permanent if sales associates can respond to safety concerns effectively and there is more domestic sourcing.
March 16, 2015
05:53 EDTLLStocks with implied volatility movement; XLE LL
Stocks with implied volatility movement; Energy Select Sector SPDR (XLE) 28, Lumber Liquidators (LL) 109 according to iVolatility.
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