NEW YORK, Aug. 4, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Eastman Kodak Co. ("Kodak" or the "Company") (NYSE: KODK).

On July 28, 2020, the price of Kodak's shares jumped over 200% following news that the Company had won a $765 million government loan under the Defense Production Act to make ingredients for Covid-19 drugs.  Shares continued to surge by over 300% the next day to close at $33.20 per share on July 29, 2020.

Unknown to investors, the day before the government loan was announced, July 27, 2020, Kodak reportedly granted its Executive Chairman Jim Continenza 1.75 million options pursuant to an "understanding" with the Board of Directors.  As this news emerged, Kodak's shares fell $6.91 per share on August 3, 2020, nearly 32%, to close at $14.94 per share.

On August 4, 2020, according to an article published in the Wall Street Journal entitled "Kodak Loan Disclosure and Stock Surge Under SEC Investigation," the SEC is now investigating "how Kodak controlled disclosure of the loan," which reportedly began to emerge on July 27, 2020.  Additionally, the Wall Street Journal article states that "[t]he SEC is also expected to examine the stock options granted to executives on July 27" because "the option grants instantly became profitable, at least on paper" after Kodak's government loan become public.

If you recently purchased or sold Kodak securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling (646) 315-9003. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this investigation, your rights, or your interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: [email protected]

View original content:http://www.prnewswire.com/news-releases/investor-alert-kaplan-fox-investigates-potential-insider-trading-and-securities-fraud-at-eastman-kodak-co-301106194.html

SOURCE Kaplan Fox & Kilsheimer LLP