Lumber Liquidators, again
- Thread starter Floorist
- Start date
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They get off easy??
Daris
Daris
http://finance.yahoo.com/q/is?s=LL+Income+Statement&annual
2014 gross revenue was over a billion dollars
$10 million dollars is roughly 1% of their total annual revenue.
But they only netted $63M so $10M is a big chunk out of that-----still under 20%
The stock went up 12% today on the news so investors were worried they could have done much worse. Let's see 2-3 months down the line if the stock still holds those gains. Traders are as fickle as Olive Oil from the old Popeye cartoons. Longer term though stock prices tend to reflect underlying value.
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I have heard that a lot of stores dumped their samples.
Has anyone heard how they are going to reimburse the thousands of consumers who were duped into buying this crap?
Probably file bankruptcy and pay a penny on the dollar. 
This fine, not nearly enough in my opinion, was only for the illegal logging. The CARB2 litigation is far from over. This fine, by the way, is to be paid over...... two years.
I've been in court for things as simple as a traffic ticket and had to pay the fine that day OR GO TO JAIL. NO PASSING GO! wtf???
What you wanna bet, over the course of the next two years.....while the CARB case is being drawn out....... they claim they had to pay $10M plus the other $3.2M and that has bankrupt them?....They are broke and can't pay other claims.
