NEW YORK, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Abraham, Fruchter & Twersky is investigating possible breach of fiduciary duty claims on behalf of Eastman Kodak Company (“KODAK”) (NYSE:KODK). The investigation arises, in part, from a disclosure made in a Form 4 filed with the Securities and Exchange Committee (the “SEC”) (available at www.sec.gov) that KODAK’s Chief Executive Officer had been granted stock options on Monday, July 27, 2020, immediately prior to the Company publicly disclosing that it had received a $765 million loan from the U.S. Department of Defense to produce drugs to treat COVID-19. The public disclosure of the Company’s receipt of funds from the U.S. Department of Defense caused KODAK’s stock price to rise considerably.
Shareholders who held KODAK stock on or before July 26, 2020 (the date before the stock option grant) and continue to hold that stock today, are encouraged to contact Abraham, Fruchter & Twersky, LLP, about its investigation without cost or obligation. You are encouraged to contact Abraham, Fruchter & Twersky by e-mailing either Jeffrey S. Abraham (JAbraham@aftlaw.com) or Michael J. Klein (MKLEIN@AFTLAW.COM). You may also call and leave a message at (212) 279-5050, Ext. 1601 or Ext. 1608 (responses to telephone messages may be delayed by the existing lockdown in New York caused by the Coronavirus).
Abraham, Fruchter & Twersky, LLP (www.aftlaw.com), is a law firm based in New York maintaining an office in California. Abraham, Fruchter & Twersky, LLP has extensive experience in litigating on behalf of investors. The firm has been ranked among the leading class action law firms in terms of recoveries achieved for shareholders, most recently obtaining approval of a $48,750,000 settlement in In re Terraform Global Securities Litigation, No. 1:16-cv-07967-PKC (S.D.N.Y.), representing as much as 75% of likely recoverable damages.
If you have any questions about this Notice, the action, your rights or your interests, please contact:
Jeffrey S. Abraham
Michael J. Klein
Abraham, Fruchter & Twersky, LLP
One Penn Plaza, Suite 2805
New York, New York 10119
Tel: (212) 279-5050, Ext. 1601 or 1608
Fax: (212) 279-3655