Faruqi & Faruqi, LLP is Investigating Lumber Liquidators Holdings, Inc. on Behalf of its Shareholders - LL
Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and the enforcement of federal antitrust laws, is investigating potential claims against the Board of Directors of Lumber Liquidators Holdings, Inc. (“Lumber Liquidators” or the “Company”) (NYSE: LL) concerning possible breaches of fiduciary duty and other violations of law.
The investigation concerns actions by Lumber Liquidators’ Board of Directors that have caused the Company to allegedly violate the federal Lacey Act relating to the allegedly illegal importation of lumber from China and Russia. Specifically, a report issued by Environmental Investigation Agency details a three year investigation of the Company wherein evidence shows that the Company knowingly bought millions of square feet of oak and birch wood that originated in protected forests in far eastern Russia through a Chinese-owned supplier. Such evidence is a violation of the Lacey Act, a federal conservation statute that makes it unlawful to import or sell certain wood types to curb illegal logging.
On September 26, 2013, Lumber Liquidators’ headquarters in Toano, Virginia and another location in Richmond were raided by the Immigration and Customs Enforcement’s Homeland Security Investigations unit, together with the U.S. Fish and Wildlife Service and the Justice Department. The Company has since confirmed the federal investigation involved imports of wood flooring products.
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