Lumber Liquidators CEO Robert Lynch unexpectedly quit on Thursday, less than a month after the embattled company's chief financial officer also stepped down.
Shares of Lumber Liquidators plunged 17 percent at the open. The stock has lost more than two-thirds of its value since late February. (Get the latest quote here.)
Earlier this month the company said it was halting sales of all its Chinese laminate flooring effective immediately. The move came in the face of dozens of lawsuits over the safety of the products, as well as looming criminal charges concerning foreign sourcing.
Lumber Liquidators has been under fire since early March, when the CBS News program "60 Minutes" aired a report saying the Chinese laminate flooring contained high levels of formaldehyde, a known carcinogen.
The company's insurers are now balking at covering it over customers' claims.