Lumber Liquidators Faces Another Challenge, Insurers Balking at Claims

Lumber Liquidators (LL) finds itself with another challenge. The insurers for Lumber Liquidators want out amid the scandal over its flooring. Many of the product liability carriers are refusing to defend the company in class action lawsuits brought by unhappy customers, forcing the company to file a lawsuit against the insurers, according to court papers. If forced to defend itself and pay out those claims, it could cost Lumber Liquidators tens of millions of dollars. The company says this is a contract dispute over terminology in the contract. Lumber Liquidators shares are down 58% in 2015. Shares fell after a '60 Minutes' report alleging its flooring contained high levels of a cancer causing chemical.