Lumber Liquidators plans $36M settlement in flooring cases

Associated Press in The Atlanta Journal Constitution
October 25, 2017
Category: Business & Politics
Region: United States, US East

TOANO, Va.  — Lumber Liquidators has agreed to a $36 million settlement to resolve claims brought on behalf of people who bought Chinese-manufactured laminate flooring reported to contain unsafe levels of formaldehyde. The Virginia-based company said Tuesday that it has signed a memorandum of understanding to settle all claims in two class-action lawsuits filed in the Eastern District of Virginia. Lumber Liquidators will pay $22 million in cash and provide $14 million in store-credit vouchers to consumers who bought the flooring between January 2009 and May 2015, when it stopped selling the product, the company said in a statement. The agreement still needs approvals from the court and the company’s board.

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