Reuters: Hot Stocks: UPDATE 2-Lumber Liquidators cooperating in wood imports probe

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UPDATE 2-Lumber Liquidators cooperating in wood imports probe Sep 27th 2013, 16:39 Fri Sep 27, 2013 10:39am EDT (Adds company statement) Sept 27 (Reuters) - Lumber Liquidators Holdings said on Friday it was cooperating with authorities after federal agents searched its headquarters and another office regarding the importation of certain wood flooring products. The company's shares were down 7 percent at $105 in morning trading. The shares posted even steeper declines in premarket trading after the Thursday searches were reported by the Associated Press. The company said search warrants were executed at its headquarters in Toano, Virginia, and at one of its offices in Richmond, Virginia, by the Department of Homeland Security's Immigration and Customs Enforcement and the U.S. Fish and Wildlife Service. Lumber Liquidators, which sells hardwood flooring at more than 305 stores in the United States and Canada, said it takes sourcing and regulatory compliance "very seriously, and is cooperating with authorities to provide them with requested information." The company said it is subject to a range of international and domestic regulations. It did not name those regulations in its statement. The U.S. Fish and Wildlife Service is charged with enforcing the provisions of the Lacey Act, which aims to curb trafficking in wildlife, fish and plant products, including illegally obtained timber. Officials from the Department of Homeland Security and Immigration and Customs Enforcement did not immediately respond to requests for comment. (Reporting by Jessica Wohl in Chicago and Deborah Charles in Washington; Editing by John Wallace) Link this Share this Digg this Email Reprints

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