Lumber Liquidators Strikes $36M Deal In Laminate MDL
Law360, New York (October 24, 2017, 9:40 PM EDT) -- Lumber Liquidators Inc. said Tuesday that it's reached a $36 million deal with two classes of consumers in Virginia federal court multidistrict litigation over its allegedly defective and hazardous laminate flooring.
One class had alleged that the durability of the wood was not up to snuff, despite marketing statements to the contrary, while another class claimed that the wood contained levels of formaldehyde beyond the standard allowed.
Under the agreement, Lumber Liquidators will pay out $22 million in cash and another $14 million in store credit, according to a press release from the company.
The company's CEO, Dennis Knowles, told Law360...
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