Dive Brief:

• Lumber Liquidators said Thursday it would stop selling all laminate flooring sourced from China pending completion of a special review.

• The announcement came in a statement from the embattled specialty retailer that said 97% of the 3,400 home air quality testing kits it has processed so far have shown formaldehyde levels that fall within World Health Organization guidelines. The discount giant received 11,000 home screening kits for testing from customers with the suspect laminate flooring in their homes, according to a press release issued by the company.

• The 355-store chain based its decision to suspend sales of Chinese laminates on a preliminary review of an independent compliance adviser who formerly worked for the FBI.

Dive Insight:

Although the company’s stock prices surged momentarily once the news broke, they slipped again by day’s end yesterday. Lumber Liquidators' stock has tanked since a March 1 report by "60 Minutes" alleging that its Chinese-sourced laminate flooring contained toxic levels of formaldehyde.