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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.
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