Lumber Liquidators shares are going nuts

Lumber Liquidators shares spiked by as much as 13% in trading on Monday following reports that a US judge accepted the company's plea agreement.

Last October, the company pleaded guilty to the US Lacey Act, which prohibits trade on illegally sourced plant products.

The hardwood flooring retailer is expected to pay $10 million on charges related to how it sourced its timber.

Lumber Liquidators had also requested a five-year probation sentence under several conditions, including that it does not commit another crime in that period and creates an Environmental Compliance Plan.

Here's a look at the spike in shares, which had been halted for volatility: Google

More to come ...

NOW WATCH: NASA just released footage of the most mysterious pyramid in the solar system