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Lumber Liquidators' stock falls after CDC says cancer risk from flooring three times higher

By Ed Adamczyk Follow @adamczyk_ed Contact the Author   |   Updated Feb. 22, 2016 at 11:34 AM

STOUGHTON , Mass., Feb. 22 (UPI) -- A statement from the CDC that it underestimated the cancer risk from some flooring caused Lumber Liquidators' stock to fall 17 percent in pre-market trading on Monday.

The Centers for Disease Control and Prevention said last week it was notified of an error in its Feb. 10 report on possible health effects from exposure to formaldehyde, a known carcinogen which can cause, at high levels, myeloid leukemia and other cancers. Formaldehyde is found in some laminate flooring. It cited higher-than-announced health risks, potentially causing eye, ear, nose and throat irritation, and increased its estimates of cancer associated with exposure to the flooring.

The CDC corrected the cancer risk from 2-9 cases per 100,000 people, to 6-30 cases per 100,000 people.

"The health risks were calculated using airborne concentration estimates about three times lower than they should have been," the CDC statement said.

The news affected Lumber Liquidators' stock, which was starting to recover after it was revealed last month that Chinese-made flooring sold at Lumber Liquidators had dangerously high formaldehyde levels. The stock fell to $11.69 a share in January after trading at $68.78 a share in February of 2015.

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