He added, “False and misleading financial reports undermine the integrity of our securities markets and harm investors. The Department and our law enforcement partners are committed to doing everything we can to ensure that those who commit securities fraud are held accountable.”
On the other hand, Marc P. Berger, Director of the SEC’s New York Regional Office, commented, “Pressured by negative publicity, Lumber Liquidators misled investors about its product testing and regulatory compliance programs. The relief obtained today, along with the criminal fine imposed by the Department of Justice, ensures that the company will forfeit all profit and pay a heavy price for the false assurances it provided to the market.”
