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HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Eastman Kodak (KODK) Investors with $500K+ Losses to Contact the Firm Now, DFC Reportedly Investigating

Newsfile Corp.

San Francisco, California--(Newsfile Corp. - September 16, 2020) - Hagens Berman urges Eastman Kodak Company (NYSE: KODK) investors with losses in excess of $500,000 to submit your losses now. A securities fraud class action has been filed.

Class Period: July 27, 2020 - Aug. 11, 2020
Lead Plaintiff Deadline: Oct. 13, 2020
Visit: www.hbsslaw.com/investor-fraud/KODK
Contact An Attorney Now: KODK@hbsslaw.com
844-916-0895

Eastman Kodak Company (KODK) Securities Class Action:

The complaint alleges Defendants perpetrated a scheme to profit by misrepresenting and concealing material facts regarding a purported deal Kodak reached with the U.S. International Development Finance Corporation (DFC).

Specifically, on July 27, 2020, Kodak issued a statement to Rochester, New York media outlets about the imminent public announcement of a "new manufacturing initiative" involving the DFC and the response to COVID-19. Following publication, the Company claimed this information was released inadvertently.

That same day, Kodak granted several insiders options to purchase approximately 1.885 million shares of Kodak, including Executive Chairman and CEO Jim Continenza and CFO David E. Bullwinkle.

On July 28, 2020, the price of Kodak's shares jumped 200% following news that the Company had won a $765 million government loan from the DFC to produce pharmaceutical materials. Shares continued to surge by over 300% the next day. This massive stock price increase allowed Kodak insiders to profit.

Thereafter, media outlets uncovered Defendants' compensation scheme. As a result of these revelations, the SEC is reportedly investigating, the DFC paused the deal, and Kodak's share price has declined sharply thereby damaging Class Period investors.

Most recently, on Sept. 14, 2020, the financial press reported the DFC inspector general is investigating why Kodak was selected for the loan, whether officials involved in it had conflicts of interest, and the impact of Kodak's lobbying effort.

"We're focused on investors' losses and holding Kodak and its insiders accountable for their fraudulent compensation scheme," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a Kodak investor who lost over $500,000 on Class Period investments, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Kodak should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email KODK@hbsslaw.com.

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About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63965