Kodak Issues Statement Responding to New York Attorney General
June 01 2021 - 4:10PM
Business Wire
Eastman Kodak Company (NYSE:KODK) today issued the following
statement in response to the New York Attorney General:
“This morning the New York Attorney General filed an application
in New York state court seeking investigative testimony and
documents from Kodak. Prior to this filing, the Company repeatedly
offered to make witnesses available and the Attorney General
repeatedly declined. It is telling that she has now chosen to
publicly seek this order asking for the very testimony in which she
previously had no interest.
Mr. Continenza was not in possession of material non-public
information and, contrary to the Attorney General’s allegations,
his small stock purchase was pre-approved by Kodak’s General
Counsel during an open trading window in accordance with Kodak’s
insider trading policy and was subsequently found to be compliant
by outside counsel in an independent investigation. Importantly,
Mr. Continenza has purchased Kodak stock in virtually every open
window period – and has never sold a single share.
In addition to being wrong on the facts, the Attorney General’s
novel and highly problematic legal theory that seeks to impose
liability in the absence of intent would have a chilling effect on
directors and executives of every public company, who could never
invest in their own companies without fear of having good-faith
decisions, pre-approved by counsel, second-guessed by regulators
and charged as insider trading.
We are confident that the facts and the law are on our side and
are prepared to present our case in court if there becomes a need
to do so.”
About Kodak
Kodak is a global technology company focused on print and
advanced materials & chemicals. We provide industry-leading
hardware, software, consumables and services primarily to customers
in commercial print, packaging, publishing, manufacturing and
entertainment. We are committed to environmental stewardship and
ongoing leadership in developing sustainable solutions. Our broad
portfolio of superior products, responsive support and world-class
R&D make Kodak solutions a smart investment for customers
looking to improve their profitability and drive growth. For
additional information on Kodak, visit us at Kodak.com and engage
with us on Twitter @KodakPrint and on LinkedIn at Kodak Print.
Kodak is a trademark of Eastman Kodak Company.
Cautionary Statement Regarding Forward-Looking
Statements
This communication includes “forward-looking statements” as that
term is defined under the Private Securities Litigation Reform Act
of 1995. Litigation by its nature is inherently unpredictable and
there can be no assurance concerning the potential outcome of the
Attorney General’s action or its effect on Kodak and its
reputation.
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version on businesswire.com: https://www.businesswire.com/news/home/20210601006030/en/
Investors Paul Dils Kodak Investor Relations
shareholderservices@kodak.com 585-724-4053
Media George Sard/Ellen Davis/Kelsey Markovich Sard
Verbinnen & Co Kodak-SVC@SARDVERB.com
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