An investor in shares of Eastman Kodak Company (NYSE: KODK) filed a lawsuit against certain directors of Eastman Kodak Company over alleged breaches of fiduciary duties.
The plaintiff alleges that certain current and former officers and directors of Eastman Kodak Company engaged in insider trading tied to a COVID-19 medical supply deal between the company and the federal government.
The lawsuit against certain directors of Eastman Kodak Company follows a lawsuit that was filed in August 2020 against Eastman Kodak Company over alleged securities laws violations. The plaintiff in that lawsuit alleged that the Defendants failed to disclose that the Company had granted James Continenza and several other Company insiders millions of dollars’ worth of stock options, immediately prior to the Company publicly disclosing that it had received the $765 million loan, which Defendants knew would cause Kodak’s stock to immediately increase in value once the deal was announced, and that in addition, while in possession of this material non-public information, James Continenza and other Company insiders purchased tens of thousands of the Company’s shares immediately prior to the announcement, again at prices that they knew would increase exponentially once news of the loan became public.
Those who purchased shares of Eastman Kodak Company (NYSE: KODK), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North
San Diego, CA 92108
E-Mail: [email protected]
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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