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Federal investigators raided the offices of Lumber Liquidators on Thursday and sealed search warrants were executed at the company’s corporate offices in Toano and Richmond, Va., by the Department of Homeland Security’s Immigration and Customs Enforcement and the U.S. Fish and Wildlife Service.
No arrests were made and the search warrants remain sealed.
In a press release issued by the company today, Lumber Liquidators says the investigation involved its importation of wood products, which come from approximately 110 domestic and international mills around the world. According to the press release, the Company takes its sourcing and compliance very seriously, and is cooperating with authorities to provide them with requested information.
Local news outlet WWBT reported authorities suspected wood the company said originated in Russia came from elsewhere. It said investigators were searching for emails and other documents. Hardware Retailing was not able to confirm WWBT’s report.
Lumber Liquidators Stocks fell sharply on today as the news emerged, dropping just over 10 percent at midday.
