Kodak Stock-Drop Plaintiffs Want Say On Ch. 11 Plan
By Brian Mahoney
Law360, New York (June 7, 2013, 5:41 PM EDT) -- A proposed class of Eastman Kodak Co. employees suing the bankrupt photography icon's top executives and directors for investing in company stock even as it careened toward bankruptcy objected to the company’s disclosure statement on Friday, saying it snubs their claims.
Proposed lead plaintiff Mark Gedek and others say that Kodak’s disclosure statement — released on April 30 along with a proposed plan of reorganization — fails to say how their ERISA claim would be classified and handled under the plan and is ambiguous about how their...