Lumber Liquidators tumbles after founder shelves buyout and sells shares for a quick profit
Shares of flooring company Lumber Liquidators plunged Friday after founder and former CEO Thomas Sullivan decided to opt out of his bid to find a buyer for the company, a week after he announced the buyout plan. Sullivan also sold the majority of his stake in the company.
The founder had upped his ownership of Lumber by 30%, or 500,000 shares on Sept. 4 through his F9 Investments, saying he wanted…
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