For a quick summary:
Lumber Liquidators Chinese-made laminate flooring violates federal and California state safety standards by containing as much as 20x the maximum allowed amount of formaldehyde.
Formaldehyde at those levels can cause cancer and asthma among other nastiness, especially in kids. Hence the safety standards.
Said laminated flooring is falsely marked as standards-compliant at the Chinese factories, all of them.
Founder/CEO of Lumber Liquidators denies everything until he's shown video of Chinese plant managers stating, quite bluntly, that the stickers are a lie and that it isn't standard compliant. So at best there's a severe breakdown in communication/oversight, at worst it's authorized by said CEO because it's 10% cheaper. The fact that the CEO acted guilty as hell and answered questions so evasively would seem to indicate complicity, I'm surprised he agreed to be interviewed.