*NEWS*COURT RULES IN KODAK"s FAVOR

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*NEWS*COURT RULES IN KODAK"s FAVOR

 user 2006-11-15 at 12:42:00 pm Views: 96
  • #17203

    Court rules in Kodak’s favour
    November
    2006 — Rochester (NY): The US District Court for the Western District
    of New York has granted a summary judgment in favour of Eastman Kodak
    in a class action lawsuit brought on behalf of shareholders.Plaintiffs
    filed the suit in federal court on behalf of shareholders who purchased
    Kodak stock between 23 April 2003 and 25 September 2003. The lawsuit
    alleged that Kodak failed to accurately disclose the state of its
    photographic film and paper business during that time period and failed
    to adequately inform investors of the risks associated with its
    business.On 1 November 2006, the court dismissed the suit against
    Kodak, concluding that the allegations were insufficient to support the
    claims.The court ruled that Kodak had accurately disclosed the state of
    its business and had clearly informed potential investors that the
    company’s plans were subject to risk and the nature of those risks.