Lumber Liquidators To Pay $33M Penalty For Securities Violations

Mealey's (March 14, 2019, 1:42 PM EDT) -- WASHINGTON, D.C. — Lumber Liquidators Holdings Inc. will pay $33 million in total penalties as part of a deferred prosecution agreement with federal prosecutors over the company’s role in a securities fraud scheme in which it misrepresented to investors that its Chinese-manufactured laminate flooring complied with California Air Resources Board (CARB) regulations, according to documents filed in Virginia federal court on March 12 (United States v. Lumber Liquidators Holdings Inc., No. 19-cr-52, E.D. Va.)....