HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Eastman Kodak (KODK) Investors: 5 Days Until Application Deadline in Securities

San Francisco, California–(Newsfile Corp. – October 8, 2020) – Hagens Berman urges Eastman Kodak Company (NYSE: KODK) investors with losses in excess of $500,000 to submit your losses now. Only five days remain until the lead plaintiff deadline in a securities fraud class action that has been filed against the […]

San Francisco, California--(Newsfile Corp. - October 8, 2020) - Hagens Berman
urges Eastman Kodak Company (NYSE: KODK) investors with losses in excess of
$500,000 to submit your losses now. Only five days remain until the lead
plaintiff deadline in a securities fraud class action that has been filed
against the company and senior executives.

Class Period: July 27, 2020 - Aug. 11, 2020
Lead Plaintiff Deadline: Oct. 13, 2020
Visit: www.hbsslaw.com/investor-fraud/KODK
Contact An Attorney Now: [email protected]
844-916-0895

Eastman Kodak Company (KODK) Securities Class Action:

The complaint alleges Defendants perpetrated a scheme to profit by misleading
investors about a purported deal Kodak reached with the U.S. International
Development Finance Corporation (DFC).

Specifically, on July 27, 2020, Kodak issued a statement to media outlets
about the imminent public announcement of a "new manufacturing initiative"
involving the DFC and the response to COVID-19. Following publication, the
Company claimed this information was released inadvertently.

That same day, Kodak granted several insiders options to purchase
approximately 1.885 million shares of Kodak, including Executive Chairman and
CEO Jim Continenza and CFO David E. Bullwinkle.

On July 28, 2020, the price of Kodak's shares jumped 200% following news the
Company secured a $765 million government loan from the DFC to produce
pharmaceutical materials. Shares continued to surge by over 300% the next day.
This massive stock price increase allowed Kodak insiders to profit.

Thereafter, media outlets uncovered Defendants' compensation scheme. As a
result of these revelations, Congress, the Office of Inspector General, and
the SEC are reportedly investigating, the DFC paused the deal, and Kodak's
share price has declined sharply thereby damaging Class Period investors.

Recently, Kodak's Board released a report authored by Kodak's attorneys - Akin
Gump Strauss Hauer & Feld LLP - purportedly absolving the Company's leadership
of securities laws violations. But on Sept. 18, 2020, Congressional Reps. Jim
Clyburn, D-S.C., Maxine Waters, D-Calif., and Carolyn Maloney, D-N.Y.
reiterated that Congress will continue to "vigorously pursue" their own
ongoing investigation of the DFC loan, stating, "Let's be clear: this report
does not represent the findings of any regulator; it is a report generated by
a law firm hired by Kodak." In fact, the lawmakers stated that the Akin Gump
report "raises more questions than it answers," including why the Trump
administration would give a loan to the onetime photography giant to set up a
pharmaceutical manufacturing arm despite no prior experience in that industry
and related "windfalls" by insiders stemming from stock trades executed before
the loan was made public.

"We're focused on investors' losses and holding Kodak and its insiders
accountable for their fraudulent compensation scheme," said Reed Kathrein, the
Hagens Berman partner leading the investigation.

If you are a Kodak investor who lost over $500,000 on Class Period
investments, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Kodak should
consider their options to help in the investigation or take advantage of the
SEC Whistleblower program. Under the new program, whistleblowers who provide
original information may receive rewards totaling up to 30 percent of any
successful recovery made by the SEC. For more information, call Reed Kathrein
at 844-916-0895 or email [email protected]

                                    # # #

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around
the country and eighty attorneys. The firm represents investors,
whistleblowers, workers and consumers in complex litigation. More about the
firm and its successes is located at hbsslaw.com. For the latest news visit
our newsroom or follow us on Twitter at @classactionlaw.

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(c) Copyright Newsfile Corp. 2020
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