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Lumber Liquidators Holdings Inc (NYSE:LL) Investor Lawsuit alleges False and Misleading Statements

A lawsuit was filed on behalf of investors in Lumber Liquidators Holdings Inc (NYSE:LL) shares over alleged securities laws violations. NYSE:LL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
PRLog - Feb. 5, 2014 - An investor, who purchased shares of Lumber Liquidators Holdings Inc (NYSE:LL), filed a lawsuit in the U.S. District Court for the Eastern District of Virginia over alleged violations of Federal Securities Laws by Lumber Liquidators Holdings Inc in connection with certain allegedly false and misleading statements made between February 22, 2012 and November 21, 2013.

If you purchased a significant amount of shares of Lumber Liquidators Holdings Inc (NYSE:LL) between February 22, 2012 and November 21, 2013, and / or if you purchased NYSE:LL shares in 2012 or earlier and currently hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: January 27, 2014. NYSE:LL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com (mailto:mail@shareholdersfoundation.com) or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired Lumber Liquidators Holdings Inc (NYSE:LL) between February 22, 2012 and November 21, 2013, that Lumber Liquidators Holdings Inc and certain of its officers and directors violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder

More specifically, the plaintiff alleges that defendants made allegedly false and/or misleading statements and/or failed to disclose that certain of Lumber Liquidators Holdings Inc’s products failed to comply with applicable laws and regulations governing formaldehyde emissions from composite wood products, that Lumber Liquidators Holdings Inc imported flooring products sourced from illegally logged wood in the Russian Far East in violation of the Lacey Act, that as a result of the foregoing violations, Lumber Liquidators Holdings Inc faces the risk of large fines, penalties, forfeitures, judgments and/or settlements in connection with government regulatory actions and/or consumer class actions, and that as a result of the foregoing, Lumber Liquidators Holdings Inc's statements were materially false and misleading at all relevant times.

On June 20, 2013 a report alleged that Lumber Liquidators Holdings Inc was selling hardwood flooring (imported from China and sold in California) products containing illegal levels of formaldehyde -a known carcinogen.

Shares of Lumber Liquidators Holdings Inc (NYSE:LL) declined from $88.40 per share on June 18, 2013, to as low as $71.758 on June 24, 2013.

Then on September 27, 2013 Lumber Liquidators Holdings Inc commented on actions taken by Federal authorities, which relate to the importation of certain of the Company's wood flooring products. Lumber Liquidators Holdings Inc said that on Sept. 26, 2013, sealed search warrants were executed at Lumber Liquidators Holdings’ corporate offices in Toano and Richmond, Virginia by the Department of Homeland Security's Immigration and Customs Enforcement and the U.S. Fish and Wildlife Service.

Shares of Lumber Liquidators Holdings Inc grew fr$76.33 per share in June 2013 to as high as $119.44 per share on November 15, 2013.

Then on November 21, 2013, a well known hedge fund manager criticized Lumber Liquidators Holdings Inc for allegedly importing illegally sourced timber from Russia in direct violation of U.S. laws.

NYSE:LL shares declined from $117.63 per share on November 21, 2013, to $97.17 per share on November 25, 2013.

Those who purchased shares of Lumber Liquidators Holdings Inc (NYSE:LL) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Contact
Shareholders Foundation, Inc.
+1-(858)-779-1554
mail@shareholdersfoundation.com

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Source:Shareholders Foundation, Inc.
Industry:Business, Finance
Tags:Lumber Liquidators, NYSE:LL, class action, lawsuit
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