Lumber Liquidators CEO Robert Lynch quit the company abruptly. Shares of their stock dropped 16 more points after the news. Lumber Liquidators said Lynch resigned “unexpectedly” but did not provide details.
Earlier this month, Lumber Liquidators stopped the sale of all laminate wood flooring from China after disclosing the US Justice Department is seeking criminal charges against it.
Robert Lynch was the CEO since January 2012. Lumber Liquidators Holdings Inc. said that its founder, Thomas Sullivan, will take over as acting CEO while the company searches for a replacement.
CBS new program “60 Minutes” reported in March 2015 that Lumber Liquidators was selling Chinese-made laminate wood flooring that contained high levels of the carcinogen formaldehyde.
If you believe you have hardwood laminate wood flooring in your home or business that may contain toxic levels of carcinogens, please get your floor tested. Testing of laminate flooring is done by Advanced Hardwood Flooring on Long Island and the surrounding New York NYC metropolitan area.
Please call us for a test kit.