• Carolyn Maloney

LAWMAKERS CRITICIZE REPORT EXONERATING EASTMAN KODAK (KODK) EXECUTIVES

Recently, Kodak’s Board released a report authored by Kodak’s attorneys – Akin Gump Strauss Hauer & Feld LLP – purportedly absolving the Company’s leadership of securities laws violations. But on Sept. 18, 2020, Congressional Reps. Jim Clyburn, D-S.C., Maxine Waters, D-Calif., and Carolyn Maloney, D-N.Y. reiterated that Congress will continue to “vigorously pursue” their own ongoing investigation of the DFC loan, stating, “Let’s be clear: this report does not represent the findings of any regulator; it is a report generated by a law firm hired by Kodak.” In fact, the lawmakers stated that the Akin Gump report “raises more questions than it answers,” including why the Trump administration would give a loan to the onetime photography giant to set up a pharmaceutical manufacturing arm despite no prior experience in that industry and related “windfalls” by insiders stemming from stock trades executed before the loan was made public.


Read more

©2019