NEW YORK, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Eastman Kodak Company ("Kodak" or the "Company") (NYSE: KODK) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Kodak securities between July 27, 2020 and August 7, 2020, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/kodk.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading and/or failed to disclose that material adverse facts. Specifically, the defendants failed to disclose that the Company had granted several insiders millions of dollars' worth of stock options, immediately prior to the Company publicly disclosing that it had received a $765 million loan from the U.S. International Development Finance Corporation to produce drugs to treat COVID-19, which defendants knew would cause Kodak's stock to immediately increase in value once the deal was announced. In addition, while in possession of this material non-public information, Company insiders purchased tens of thousands of the Company's shares immediately prior to the announcement, again at prices that they knew would increase once news of the loan became public. As a result of the foregoing, defendants' statements about Kodak's business, operations, and prospects were false and misleading and/or lacked a reasonable basis when made. As a result of this fraudulent scheme, defendants artificially inflated the Company's stock price throughout the Class Period and made investment decisions based on material, nonpublic information derived from their positions at Kodak.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/kodk or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Kodak you have until October 13, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com