Lumber Liquidators up nearly six percent after sell-off

Lumber Liquidators finally got a break Tuesday after the hardwood retailer promised to address investor worries about its ability to survive the crisis that has engulfed it.

Shares rose 5.8 percent to $29.58 following days of pummeling that saw the stock lose 60 percent of its value since the company reported earnings on Feb. 26.

Most of the decline followed a “60 Minutes” report that found levels of formaldehyde, a carcinogen, in the Toano, Va.-based company’s Chinese-made laminate flooring that were above the standards set by the California Air Resources Board.

Moreover, the product was stamped “CARB 2 compliant” when CBS reporters and testers found that it was not.

Also Tuesday, authorities opened a probe to determine if the company violated state law prohibiting deceptive statements to consumers.

The company said it will address concerns on an investor call Thursday.