Kodak Pins Hopes On Patent Sale As Outlook Dims

Law360, New York (November 3, 2011, 7:35 PM EDT) -- Eastman Kodak Co. unveiled plans Thursday to stave off its mounting financial struggles by selling off 10 percent of its patent portfolio — a dicey move that might only buy it a temporary reprieve from swirling bankruptcy rumors, attorneys say.

Rochester, N.Y.-based Kodak’s sales fell 17 percent from the same quarter last year and its operating losses ballooned to $222 million from $43 million, continuing a year of bad financial news for the photography and printing company, it said in its third-quarter report filed Thursday with...
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