Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Lumber Liquidators Holdings, Inc. (LL) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Lumber Liquidators Holdings, Inc. (“Lumber Liquidators” or the “Company”) (NYSE: LL) of the November 17, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Lumber Liquidators and certain executives.
A complaint has been filed in the United States District Court for the Eastern District of Virginia on behalf of all persons who purchased Lumber Liquidators’ securities between November 25, 2013 and July 9, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Lumber Liquidators made false and/or misleading statements and/or failed to disclose that quality control requirements implemented by the Company would neither affect its supplier network nor adversely impact its revenue, earnings, or margins.
On July 9, 2014, Lumber Liquidators announced financial results for the second quarter of 2014, including lower sales totals which were attributable to production delays caused by the Company’s attempts to enhance its quality assurance requirements. Lumber Liquidators also disclosed that greater discounting led to margins to contract in the second quarter of 2014 compared to the same quarter in 2013.
Following this news, the price of the Company’s stock declined by $15.17 per share, or over 21%, to close on July 10, 2014 at $55.25 per share.
If you invested in Lumber Liquidators common stock or options between November 25, 2013 and July 9, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Lumber Liquidators’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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