LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of Eastman Kodak Company (“Kodak” or the “Company”) (NYSE: KODK) concerning whether the board breached its fiduciary duties to shareholders.
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In mid-2020, Kodak announced a $765 million government loan for the Company to develop a “new manufacturing initiative” to produce pharmaceutical materials, including ingredients for COVID-19 drugs. Following reports that insiders had received “unusual” option grants shortly before the loan announcement, Kodak is being investigated by several congressional committees, the U.S. Securities and Exchange Commission, and the New York Attorney General’s office.
Recently, Kodak’s Chief Executive Officer and general counsel were ordered to testify in the New York Attorney General’s investigation regarding insider trading around the time of the loan announcement.
Our investigation concerns whether the Company’s board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the above alleged misconduct.
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If you still hold Kodak shares purchased before July, 2020 and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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