Lumber Liquidators has not sold these products since May of 2015. CARB has concluded its review with no formal finding of violation or admission of wrongdoing on the part of the Company.
In accordance with the agreement, Lumber Liquidators will implement a series of voluntary compliance procedures to ensure that all of the Company's flooring products comply with CARB's formaldehyde standards, which are the most stringent in the country.
Lumber Liquidators will also pay $2.5 million to CARB, of which $1.5 million was accrued in 2015, to resolve the matter. In its agreement with Lumber Liquidators, CARB expressly recognized the actions taken by the Company to ensure compliance and the lack of evidence of actual harm to public health, safety and welfare.
Lumber Liquidators is North America's largest specialty retailer of hardwood flooring.
