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LOS ANGELES, Oct. 08, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Eastman Kodak Company ("Kodak" or "the Company") (NYSE: KODK) investors that acquired securities between July 27, 2020 and August 7, 2020.
According to the Complaint, the Company made false and misleading statements to the market. Kodak failed to disclose that it had granted insiders stocks options worth millions just before the public announcement of a $765 million loan from the U.S. International Development Finance Corporation to develop medicines to treat COVID-19, an announcement which the Company knew would immediately increase the value of its shares. Kodak insiders also purchased tens of thousands of shares before the announcement, acting on the news before it went public. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Kodak, investors suffered damages.
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