Lumber Liquidators defends products as safe after '60 Minutes' report raises health concerns

Industrials Associated Press

Lumber Liquidators is refuting a "60 Minutes" report that raised health concerns about some of its laminate flooring products and pushed its stock price to its lowest level in more than two years.

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In a printed statement on Monday, Lumber Liquidators said all of its laminate flooring meets the safety standards set by regulators throughout the U.S. The defense came the day after "60 Minutes" aired findings that some of Lumber Liquidators' flooring made in China had high levels of formaldehyde, a carcinogen.

The tests by three certified labs concluded the amounts of formaldehyde failed to meet California's emissions standards.

Lumber Liquidators' stock plunged $11.15, or more than 21 percent, to $40.71 in early afternoon trading. Earlier in the session, the shares fell to $8.19, the lowest since July 2012.