Lumber Liquidators stands by safety of products, offers free tests

[March 12, 2015]  (Reuters) - Lumber Liquidators Holdings Inc, which is facing U.S. government probes over claims of dangerous levels of a cancer-causing substance in its flooring products, stood by the safety its products and said it would offer free indoor air quality testing for qualifying consumers.

The company, however, said it was unable to currently forecast 2015 sales or profitability till it has more clarity on the matter.

The hardwood flooring retailer's shares have lost more than half their value in the last two weeks, following a report from CBS's "60 Minutes" on March 1 alleging the company's flooring had higher-than-permitted levels of formaldehyde, a known carcinogen.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Savio D'Souza)
 

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