Stock in Lumber Liquidators crashed on Monday after floors the company installed in homes across the US were linked to the cancer-causing chemical formaldehyde . In a 60 Minutes segment that aired on Sunday , CBS reported that company-installed flooring in at least five states had high levels of formaldehyde . CBS took 31 samples from Lumber Liquidators ' flooring in Virginia , Florida , Texas , Illinois and New York and had them sent to certified labs for testing . Scroll down for video . A 60 Minutes report found unsafe levels of cancer-causing agent formaldehyde in Lumber Liquidator floors . The show sent floors from Virginia , Florida , Texas , Illinois and New York to certified labs for testing . The testing revealed that 30 of the 31 samples were not up to California Air Resources Board standards . When the results came back , nearly all of the samples had levels of formaldehyde that exceeded California health and safety standards . The show used the formaldehyde standards set by the California Air Resources Board ( CARB ) as a measuring stick , the Wall Street Journal reported . 'Out of the 31 samples of Chinese-made laminate flooring , only one was compliant with formaldehyde emissions standards . Some were more than 13 times over the California limit , ' according to CBS . The flooring comes from mills in China , according to the report . The report sent Lumber Liquidators shares tumbling . The stock had fallen 24.8 per cent before the market opened Monday and trading was eventually halted . Lumber Liquidators stock had fallen 24.8 per cent before the market opened for business on Monday . In a statement , Lumber Liquidators said 'we stand by every single plank of wood and laminate we sell all around the country ' . The company questioned whether the testing method CBS used is part of CARB regulations and reiterated that its wood does live up to California standards . Lumber Liquidators said : 'Although the CARB regulations only apply in California , we adhere to these standards everywhere we do business . 'Every manufacturer of fiberboard cores used in our products is certified in accordance with CARB regulations . 'Our laminate floors are completely safe to use as intended . ' The company added additional attacks on its standards are 'driven by a small group of short-selling investors who are working together for the purpose of making money by lowering our stock price ' .
A 60 Minutes report found unsafe levels of the cancer-causing chemical formaldehyde in floors the company had installed in five states . Show used formaldehyde standards set by California Air Resources Board . Hide Caption