NEW YORK, Nov. 4, 2014 /PRNewswire/ -- Strauss Law P.L.L.C., a litigation firm specializing in shareholder rights and business owner disputes, has commenced an investigation into Lumber Liquidators Holdings, Inc. ("LL" or the "Company") to determine whether the Company's Officers and Directors have breached their fiduciary duties owed to the Company and its shareholders.
LL operates as a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories. The Company offers its products under the Bellawood, as well as Lumber Liquidators brands. It operates through integrated sales channels, such as stores, call center, and catalogs, as well as through its website, lumberliquidators.com. As of September 30, 2014, it operated 349 stores in 46 states and Canada.
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. Following this news, LL stock dropped more than 21% to close at $55.25 per share on July 10, 2014, on heavy volume.
What You Can Do
If you are a long term LL shareholder, you may have legal claims against LL Officers and Directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Jesse Strauss at 212-822-1496 or via email at firstname.lastname@example.org
About Strauss Law P.L.L.C.
Strauss Law P.L.L.C. is full service litigation firm with a specialty in, among other related practice areas, shareholder rights and business owner disputes. Strauss Law P.L.L.C.'s founder, Jesse Strauss, has over a decade of experience getting justice for his clients, including trial experience at a top national law firm, litigating complex securities fraud matters at a leading plaintiff side class action litigation firm, and clerking for a U.S. District Court Judge. Jesse takes on the tough cases and gets results. He has been twice selected as a New York "Super Lawyer" by Thompson Reuters for his work.
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