Lumber Liquidators CPSC Conference: A Play-By-Play Recap
On Wednesday morning, CPSC held a teleconference to talk about Lumber Liquidators Holdings Inc (NYSE: LL). Below are the highlights from that call.
10:33:24am: FTI Consulting Offers Lumber Liquidators Statement Related to CPSC Investigation
"Lumber Liquidators is fully cooperating with the U.S. Consumer Product Safety Commission and has already provided a significant amount of testing and safety information to the agency staff. We have been in direct communication with CPSC staff over the past several weeks and expect them to review our products using sound science and test methods that evaluate finished flooring as used in consumers' homes. It is our firm belief that finished product testing, rather than deconstruction, is the best approach to determine consumer safety. We look forward to working with the CPSC on this matter."
10:18:51am: CPSC Official Says Investigation 'Exclusive to Lumber Liquidators,' But If Commission Sees Reason to Expand Beyond Co. (to Other Co.'s Products), It Will
10:15:48am: CPSC Official Says 'Unsure' If There Was A Breakdown in the Current Process Which Allowed In-Question Lumber Liquidators Products to Make It Into the US
10:12:16am: When Asked About Potential for CPSC to Probe Other Lumber Liquidators Products, Official Suggests If Potential Harm to Consumers is Apparent, Commission Will Investigate
10:09:45am: CPSC Official Says 'Still Too Early' to Give Indication Toward Potential Recall
10:09:30am: CPSC Says Coordinating With EPA, CDC, FTC, NIH on Lumber Liquidators Testing
10:06:51am: CPSC Official Says, Related to Timeline of Investigation, 'I Think We're Looking at Months -- Not Weeks'
10:06:07am: Timeline for Lumber Liquidators Investigation, According to CPSC Official: 'First Collecting Samples...' 'Contract Out with a Certain Number of Labs'
10:05:39am: CPSC Says Investigation Involves First Collecting Samples as Far Back as June 2012
10:03:56am: CPSC Says Actively Investigating Laminate Imports from Lumber Liquidators
10:02:11am: CPSC Conference Call on Lumber Liquidators Begins
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