Lumber Liquidators stock pummeled after '60 Minutes' probe

Lumber Liquidators' stock fell through the floor after the CBS news show '60 Minutes' reported lab tests revealed the flooring store's laminate flooring contains levels of formaldehyde high enough to cause cancer, according to CNNMoney.
 
Lab tests on the flooring, made in China, revealed levels of formaldehyde ranging from six to 20 times the limit allowed by California law. Exposure to formaldehyde increases the risk of lung disorders, the report states.
 
Lumber Liquidators' stock fell 20 percent Monday morning after the report aired. The stock also lost 26 percent last Wednesday when the company's CEO warned investors of the upcoming report.

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