FOX Business Network’s (FBN) Charlie Gasparino reports Lumber Liquidators are telling investors “there’s a better than even chance…they’re going to sue 60 Minutes for libel” over their recent report.
On whether Lumber Liquidators will file a lawsuit against 60 minutes:
“I’m getting this from investors that are speaking with company officials post yesterday’s announcement, which said there’s going to be a national regulatory body that looks at laminate and floor products. That regulatory body is launching an investigation into what “60 Minutes” contended that Lumber Liquidator products contains high levels of carcinogens particularly those that are shipped from China. But here’s the twist and why the stock yesterday was up 13 percent even though the Dow lost something like 250. The way they’re going to test it is they’re not going to use the “60 Minutes” of testing. They’re going to use the same method that Lumber Liquidators tested. What Lumber Liquidators is doing from what we understand. What they are telling investigators. They are waiting for this regulatory review where they test the product in sort of a constructive matter rather than a deconstructive manner…and when that comes in and when they believe they get the green light from the national regulators. There’s a better than even chance they’re telling investors that they’re going to sue “60 Minutes” for libel.”