Kodak Execs Misled Investors On Road To Ch. 11: Class Action

Law360, New York (February 10, 2012, 10:21 PM EST) -- An Eastman Kodak Inc. investor hit the bankrupt photography equipment giant's CEO and other executives with a putative class action in New York federal court Friday, claiming they hid the company's shaky financial situation from shareholders in the months before Kodak's Chapter 11 filing.

Plaintiff Timothy A. Hutchinson says the defendants — CEO Antonio M. Perez, Chief Operating Officer Philip J. Faraci and Chief Financial Officer Antoinette P. McCorvey — knew that Kodak's business model was not working and that its cash position was much more...
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