Lumber Liquidators falls in premarket on revised CDC report
NEW YORK - Lumber Liquidators' stock is plunging in premarket trading Monday as the Centers for Disease Control and Prevention now says people exposed to certain types of the company's laminate flooring were three times more likely to get cancer than the agency previously predicted.
The CDC said that in its original report it had used an incorrect value for ceiling height. It said that resulted in health risks calculated using airborne concentration elements about three times lower than they should have been.
It now estimates the risk of cancer at six to 30 cases per 100,000 people. It previously estimated two to nine cases per 100,000 people.
The agency said that its recommendations will likely stay the same - that people take steps to reduce exposure.
Shares of Lumber Liquidators Holdings Inc. slid $1.98, or 13.9 percent, to $12.23 about an hour before the market open.