SAN FRANCISCO, Sept. 2, 2020 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is continuing to investigate potential legal claims against Eastman Kodak Co. (NYSE: KODK) and certain of its insiders on behalf of shareholders. Shareholders with losses over $50,000 or current stockholders are encouraged to contact the firm.
The firm's investigation focuses on potential insider trading by Kodak's chairman and other members of the board of directors shortly before the July 28, 2020 announcement of the Trump administration's $765 million loan to the company for COVID-19 drug ingredient production. In violation of the law, these Kodak insiders may have profited handsomely by purchasing large amounts of stock or receiving lucrative stock options ahead of this news based on material, non-public information. Following the announcement, Kodak's stock surged.
The Securities and Exchange Commission and congressional panels are now investigating Kodak's suspicious conduct, and the U.S. International Development Finance Corp. is withholding the loan amid regulatory scrutiny until the company is cleared of all wrongdoing. Additionally, on August 13, 2020, a class action lawsuit was filed in the U.S. District Court for the District of New Jersey on behalf of Kodak investors concerning these circumstances.
The Schubert Firm is investigating legal claims for shareholder losses and based on potential insider trading and the company's announcement of the government loan. For more information, please visit our website at http://www.classactionlawyers.com/kodak.
If you suffered a loss of over $50,000 or currently own stock in Kodak and wish to obtain additional information about shareholder claims and your legal rights, please contact us today.
About Schubert Jonckheer & Kolbe
Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco, and with the help of co-counsel, litigates cases nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Willem F. Jonckheer
Schubert Jonckheer & Kolbe
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SOURCE Schubert Jonckheer & Kolbe LLP