Kodak Securities Fraud Suit Underdeveloped, Judge Says

Law360, New York (April 25, 2013, 8:38 PM EDT) -- A federal judge on Thursday threw out a putative investor class action alleging Kodak’s leadership hid plans to file for bankruptcy, saying the claims are too weak to go forward.

A few positive statements from Kodak CEO Antonio M. Perez, combined with its hiring of a Jones Day restructuring team, did not mean company brass recklessly misled investors about its financial state as it listed toward bankruptcy, U.S. District Judge Harold Baer Jr. said in a written opinion.

“Contrary to plaintiff's contentions, the court cannot combine...
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