This is the rumor. Multiple shareholders about to file a class action against E Y AP personally, Blackstone, EK Alix Partners for unjust enrichment, false valuation. Unsec creditors joining the fray and strategic buyers ready to go. Projected 400 millions in profit in the future per year. undervalued real estate, huge hodings abroad, zero for shareholders. Madoff should joint the board. JIMHO . Still rumors of class actions, hearing it and that may push unsec creditors to join and HF too. Unsec creditors getting pennies, while sec creditors put down 400 millions borrow against cash flow and first year profit cover their investment. AM I missing something. Can not buy a pizza store and get my money back after one year. I am in wrong business, should work at Sullivan Cromwell or Blackstone. They steal after putting regulators to sleep with their power point presentations. Better than gandolfini
Wanting the stock to be NOT canceled does not stop the cancelation.
The shareholders willingly were whusses. They worshiped the CEO's rear end and had no balls to fire him for cause. They are such whusses that they do not care if he is on the NEW Kodak BOD collecting 1 million per year while the old stock is to go worthless. They never got mad at his rotten performance over the last decade where the stock went from 30 bucks to 4 cents; then soon to zero. The old shareholders ate all the hokem of upper management; their mindset to is to reward their CEO with more money while screwing the old shareholders. The whussy old shareholders worship their cult CEO who axed the common Joes job by allowing this phony to be on the new Kodak BOD.
Why are old Kodak shareholders such whuses? How come they worship their "job creator" who ruined Kodak? Because they believed all the #$%$ and phony projections. The old shareholders chose rewarding their hero Perez over doing what is right; ie firing him 6 years ago for cause.
Any idiot can file a law suit. Here, the Bankruptcy judge has approved the POR. The stock will be cancelled. Anyone wanting to challenge that would need to do it in bankruptcy court, and the time for that has passed.
Sentiment: Strong Sell