Lumber Liquidators Chairman: 'Not Going To Save 2 Or 3 Cents On Laminate And Ruin The Reputation Of Our Company'

Shares of Lumber Liquidators Holdings Inc

have dropped significantly since 60 Minutes aired the episode of the company flouting safety regulations and hedge fund manager and head of Kase Capital Management, Whitney Tilson, announcing that he has increased his short position in the stock. The company did a conference call for investors on Thursday in which it refuted allegations against it. Founder, Former CEO and current Chairman of Lumber Liquidators Tom Sullivan was on CNBC Friday to discuss the allegations against the company. We Don't Skimp On Product On how it has been for him since 60 Minutes aired that story, Sullivan said, "It's been sad for me to see, a good company that was built to be talked about like this and we do from day 1, we have always taken care of our customers, given [them] a good product at a good price, we don't skimp on the product and our laminate is safe. We are definitely not going to save 2 or 3 cents on laminate and ruin the reputation of the company." Sullivan also revealed that "I have on tape Anderson Cooper admitting that that test is nota real world test and that it's not part of the regulations on CARB [California Air Resource Board]. We taped that interview as well and we have that on tape." Suing 60 Minutes And Tilson Sullivan was asked if he will be suing 60 Minutes and Whitney Tilson. He replied, "[Although it's] very possible, but right now we are working on taking of our customers and getting this under control."