New York, New York–(Newsfile Corp. - October 5, 2020) - Faruqi & Faruqi, LLP, a leading minority and certified woman-owned national securities law firm, is investigating potential claims against Eastman Kodak Company ("Kodak" or the "Company") (NYSE: KODK) and reminds investors of the October 13, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Defendants had improperly leaked the information to the market on July 27, 2020 before the official announcement and actively engaged in a cover-up scheme; 3) the status and likelihood of the $765 million DFC Loan was misrepresented to the market for many reasons, particularly given the Company's wrongful behavior in terms of secretly granting options to Defendant Continenza and other insider transactions while in possession of material non-public information, as well as improperly leaking the news and engaging in a cover up scheme of these facts;
August 11, 2020, an article published by Dow Jones informed investors that according to a filing with the SEC during the prior week, one of Kodak's Board members, George Karfunkel, had made a suspiciously-timed gift of 3 million shares to a congregation in Brooklyn, New York on July 29, 2020. According to the article, the gift was valued at over $116 million abased on IRS rules, making it the single largest donation to a religious group.
https://finance.yahoo.com/news/kodak-shareholder-alert-faruqi-faruqi-192200786.html