Lumber Liquidators Posts Wider-Than-Expected Quarterly Loss; Creates Settlement Fund
Lumber Liquidators reported a wider-than-expected first-quarter loss and sales declined for a fifth straight quarter as the Toano-based flooring company spends heavily to put behind it damaging reports on potentially dangerous products imported from China. The company will contribute $26 million and a million of its shares to a settlement fund to resolve a related class action. That follows an …