Lumber Liquidators gets fined $13 million for flooring imports violations

Global SourcesUpdated on 2023/12/01

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Despite what the company is facing, its stock price reportedly increased.

Wikipedia, Dwight Burdette

A federal court fined Lumber Liquidators more than $13 million for importation of hardwood flooring that violated the Lacey Act.

The company would be paying $7.8 million in criminal fines, more than $1.23 million in community service payments and more than $3.1 million in a related civil forfeiture.

In October 2015, the Virginia-based firm pleaded guilty to felony and misdemeanor charges. The company admitted to importing hardwood flooring from China that was made from timber illegally logged in Russia.

Lumber Liquidators agreed to a five-year term of organizational probation and mandatory implementation of an environmental compliance plan and independent audits. In spite of the case it is facing, It was reported that the company's stock and shares went up 10 and 22 percent, respectively.

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