Shareholder Alert: Robbins LLP Is Investigating Officers and Directors of Eastman Kodak Co. (KODK)
SAN DIEGO & ROCHESTER, N.Y.–(BUSINESS WIRE)–
Shareholder rights law firm Robbins LLP is investigating the officers and directors of Eastman Kodak Co. (NYSE:KODK) for possible breaches of fiduciary duties. Eastman Kodak is a technology company that provides hardware, software, and services to customers in commercial print, packaging, publishing, manufacturing, and entertainment.
If you suffered a loss due to Kodak’s misconduct, we encourage you to contact us.
Eastman Kodak Co. (KODK) Admits to Having Deficient Internal Controls
The Financial Times recently reported that in July Kodak gave five former executives stock worth millions of dollars in exchange for stock options they did not own, which resulted in former officers and employees exercising 300,000 options they had previously forfeited. According to Kodak’s chief financial officer, Kodak’s “controls were inadequate with regard to the timely input and verification of master data updates for equity grants and therefore, resulted in errors or misstatements in employee equity account balances.” Kodak took a $5.1 million expense in the third quarter related to the options.
Kodak (KODK) Shareholders Have Legal Options
Contact us to learn more:
Lauren Levi
(800) 350-6003
[email protected]
Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against Kodak settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201113005659/en/
Lauren Levi
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
[email protected]
(800) 350-6003
www.robbinsllp.com
KEYWORDS: United States North America California New York
INDUSTRY KEYWORDS: Legal Professional Services
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