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NEW YORK (MarketWatch) Lumber Liquidators Holding Inc. shares tumbled 12.6% Wednesday, after a Democratic senator called on the federal government to conduct independent testing of China-sourced laminate, alleged in a weekend report to contain higher-than-accepted levels of a known carcinogen.

Sen. Bill Nelson of Florida also called on the government to investigate whether Lumber Liquidators has made false marketing claims about the safety of its products. Because this could affect millions of homeowners, its imperative we get some answers quickly, Nelson said.

Earlier, Lumber Liquidators canceled an appearance at a conference and said it would host a call with investors on March 12, as it continues to respond to the fallout from a damning report by 60 Minutes that aired on Sunday.

The U.S. retailer of hardwood flooring said it would not participate in the Raymond James Institutional Investors Conference scheduled for later Wednesday.

We regret that we are not attending the conference today and apologize to our investors that planned to attend, said Chief Executive Robert Lynch. We look forward to speaking with you next week regarding our business update.

The stock LL, -12.60% , which was up for much of the morning before turning lower, has been pummeled over the last week on fears related to the60 Minutes report, which alleged the company sold Chinese-made laminate flooring to many American homeowners that contained levels of formaldehyde that exceed California standards. Formaldehyde can cause myeloid leukemia and other cancers at high levels, as well as respiratory issues and eye, nose and throat irritation at low levels.

The 60 Minutes team said Chinese-sourced laminate carried by Lumber Liquidators bears a label indicating that it is CARB Phase 2compliant, referring to the California Air Resources Board, which sets standards for formaldehyde emissions in wood flooring. Those standards were adopted by Congress in 2010 in a law that is supposed to take effect across the U.S. this year.

The team broadcast interviews with employees of Chinese mills, who admitted the products they supply to the company weren't CARB Phase 2compliant, and were falsely labeled as such to save the company up to 15% on price.

Lumber Liquidators has already released one statement challenging the testing used by 60 Minutes and insisting its products are completely safe. The statement also questioned the on-camera accounts from the Chinese suppliers, saying the company didn't recognize any of the individuals interviewed.

The suppliers have confirmed that all products provided to Lumber Liquidators have been and are CARB compliant, it said.

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Lumber Liquidators shares fall as Senate Democrat calls for federal probe