Eastman Kodak Company

Eastman Kodak Company (OTC: EKDKQ)

MURRAY FRANK LLP is investigating securities fraud claims against Eastman Kodak Company (“Eastman Kodak” or the “Company”) (OTC: EKDKQ) and certain of its officers, on behalf of purchasers of Eastman Kodak securities between January 26, 2011 and September 23, 2011, inclusive (the “Class Period”).

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The investigation concerns violations of the Securities Exchange Act of 1934 (the “Exchange Act”) that occurred when the Company and certain of its officers issued materially false and misleading statements during the Class Period regarding Eastman Kodak’s business operations and prospects.    

Specifically, during the Class Period, Defendants made false and misleading statements about or knew but failed to disclose that: (1) the Company’s business model – to leverage its intellectual property portfolio and brand presence in a sustainable, profitable manner – was not working; (2) the Company’s cash position was not as strong as Defendants’ statements suggested; and (3) as a result of the foregoing, Defendants lacked a reasonable basis for their optimistic statements about the Company and its business operations and prospects.    

On September 23, 2011, the Company issued a press release announcing that the Company had initiated a draw of $160 million against its credit line for “general corporate purposes.”   On this news, Eastman Kodak’s stock price fell by $0.64, from a close of $2.38 per share on September 23, 2011 to a close of $1.74 per share on September 26, 2011.  

If you purchased Eastman Kodak securities within the Class Period, you may move the Court, not later than April 10, 2012, to serve as Lead Plaintiff for the class.  A Lead Plaintiff is a representative chosen by the Court who acts on behalf of other class members in directing the litigation.  You do not need to be a Lead Plaintiff to be included in the class.  If you wish to discuss this investigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.

Bridget Hamill
[email protected]