Lumber Liquidators’ Flooring Fails Safety Tests: ‘60 Minutes’

Trading was halted Monday in Lumber Liquidators after its shares dropped more than 20 percent following a CBS report that the company sold flooring with higher levels of formaldehyde than permitted under California's health and safety standards. The trading was halted for pending news. The stock had fallen 24.8 percent before the market opened Monday. The "60 Minutes" piece on Sunday said it tested Lumber Liquidators’ flooring in Virginia, Florida, Texas, Illinois and New York for levels of formaldehyde, a cancer-causing chemical.