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The
Centers for Disease Control and Prevention (CDC) said on Feb. 18
it estimated the risk of cancer was 6-30 cases per 100,000
people, compared with the 2-9 cases it had estimated in a Feb.
10 report. The CDC said the revised results were preliminary.
(1.usa.gov/1KbZEAR)
Lumber Liquidators' shares were set to open more than 15 percent
lower on Monday, which would be the stock's biggest intraday
percentage drop in six months.
The CDC said it had used an incorrect value to calculate ceiling
height, which meant its estimates of the airborne concentration
of cancer-causing formaldehyde were about three times lower than
they should have been. (1.usa.gov/1KbZEAR)
CBS "60 Minutes" reported on Sunday it was alerted to the
possibility that scientists had not converted feet to meters in
some calculations.
Lumber Liquidators was not available for comment outside regular
business hours. It had supported the recommendations of the
CDC's previous report on the safety of flooring made in China
between 2012 and 2014.
The company's' shares and sales have been in a tailspin since
March last year when CBS "60 Minutes" reported the retailer's
laminates from China contained excessive levels of formaldehyde.
Up to Friday's close of $14.21, Lumber Liquidators' shares had
risen 17.5 percent since the CDC's initial report. But they are
still down 79 percent since the company had in late February
last year warned of the CBS report.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio
D'Souza)
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