INVESTOR ALERT: Investigation on Behalf of Lumber Liquidators Holdings, Inc. Shareholders Announced by Glancy Binkow & Goldberg LLP
Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of shareholders of Lumber Liquidators Holdings, Inc. (“Lumber Liquidators” or the “Company”) (NYSE:LL) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company between November 25, 2013 and July 9, 2014, concerning Lumber Liquidators’ business, operations and financial prospects.
Please contact Casey Sadler at 310-201-9150, or at email@example.com to discuss this matter. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
Lumber Liquidators, together with its subsidiaries, operates as a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories. The investigation is related to allegations that Lumber Liquidators (1) issued false and misleading statements that misrepresented that quality control requirements implemented by the Company would neither affect its extensive and diverse supplier network, nor impact its revenue, earnings or margin, and (2) misrepresented that the Company would continue to experience revenue and earnings growth and margin expansion.
On July 9, 2014, Lumber Liquidators lowered its previous 2014 financial guidance and disclosed that “lower than planned inventory levels reduced our ability to convert customer interest into invoiced sales,” which the Company attributed to “production delays in meeting our open orders as we continued to enhance our quality assurance requirements.” In addition, the Company announced an expected contraction in second quarter gross margin, primarily the result of greater retail discounting. Following this news, Lumber Liquidators stock dropped more than 21%, or $15.17 per share, to close at $55.25 per share on July 10, 2014, on heavy volume.
If you purchased Lumber Liquidators shares, if you have information, or would like to learn more, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at 888-773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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