Lumber Liquidators Plunges After U.S. Raids Offices
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Lumber Liquidators Holdings Inc., the hardwood flooring retailer, dropped the most in three months in New York trading after announcing that federal officials had executed search warrants at its offices in Virginia.
The searches yesterday by U.S. Immigration and Customs Enforcement and the Fish and Wildlife Service were related to importation of wood-flooring products, the Toano, Virginia-based company said in a statement today. The company said it “takes its sourcing and compliance very seriously” and is cooperating with the investigators.