Virginia News: RICHMOND, Lumber Liquidators Agrees to $33 Million Penalty for Securities Fraud

Virginia News: RICHMOND, Lumber Liquidators Agrees to $33 Million Penalty for Securities Fraud

RICHMOND, Va. – Lumber Liquidators Holdings, Inc. has agreed to pay a total penalty of $33 million for filing a materially false and misleading statement to investors regarding the sale of its laminate flooring from China to its customers in the United States.

“This resolution holds Lumber Liquidators accountable for misleading the investing public,” said G. Zachary Terwilliger, U.S. Attorney for the Eastern District of Virginia. “It also recognizes that the company has cooperated with the government’s investigation, completely replaced its senior executive team, and installed experienced executives who have displayed a commitment to building an ethical corporate culture.

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