Lumber Liquidators chief Robert Lynch resigns

Robert Lynch, the chief executive and president of embattled flooring retailer Lumber Liquidators, abruptly resigned from the company Thursday, the New York Times reports.
 
Lumber Liquidators has been under fire since a March report by "60 Minutes" accused the company of selling flooring, made in China, that contained potentially hazardous amounts of the carcinogen formaldehyde. The boxes were falsely labled as safe.
 
The Consumer Product Safey Commission is investigating the company. Lumber Liquidators' stock has fallen more than 30 percent since the news broke, falling 10 percent on Thursday.

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