The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Eastman Kodak Company (NYSE: KODK) securities between July 27, 2020 and August 7, 2020.
According to the Kodak lawsuit, defendants failed to disclose that the Company had granted its Executive Chairman, 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. In addition, while in possession of this material non-public information, 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.
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.
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