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Case ID: 4319 | Stocks | 06/28/2005
A class action has been filed against Eastman Kodak Company (NYSE:EK), certain of its officers and directors by stockholders who purchased the company's common stock between April 23, 2003 and September 25, 2003. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock.
According to a press release dated June 13, 2005, the Complaint alleges that Kodak and certain of its officers and directors violated federal securities laws. Specifically, the Complaint alleges that Kodak's financial guidance for the second quarter of 2003, first issued on April 23, 2003, was improper given undisclosed problems within the company. On September 25, 2003, Kodak announced that its then-existing business model had been failing throughout the Class Period and, as a result of operating difficulties, it would be forced cut its historic dividend by 72%. On this news, Kodak's stock price plummeted by 18% to an 18 year-low on September 25, 2003. If you bought Eastman Kodak Company securities between April 23, 2003 and September 25, 2003, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest Custom Designed Compressor Systems, Inc. Issued Materially False And Misleading Financial Statements A class action has been filed against Custom Designed Compressor Systems, Inc. CPYJ.PK, certain of its officers and directors by stockholders who purchased the company's common stock between September 14, 2004 and October 22, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against Juniper Networks, Inc. (JNPR), certain of its officers and directors by stockholders who purchased the company's common stock between September 1, 2003 and May 22, 2006. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. On April 07, 2008, several motions were filed by certain groups and individuals for the appointment of lead plaintiffs and to approve the selection of lead counsels. Just as quickly, several proposed orders granting the above mentioned motions were also entered at the same time. As the case progresses, several responses from the competing motions for the appointment of lead plaintiffs and counsels were filed on May 14, 2008. The judge finally made its order granting the Public Funds Group, the Cobb County Government Employees' Pension Plan, the Dekalb County Pension Plan, and the Mississippi Public Employees Retirement System to be appointed as lead plaintiffs and counsels. The case was quickly followed by a proposed order entered on May 23, 2008 in regards to the consolidation of cases filed by the Public Funds Group. As a result, a stipulation and order to consolidate cases was entered on May 28, 2008.
Several class actions have been filed against airport safety equipment designer Flight Safety Technologies, Inc., (Amex:FLT) and certain of its officers and directors by stockholders who purchased the company's common stock between January 14, 2003, and July 16, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed in the Northern District Court of California against Tripath Technology, Inc., a California based technology company, (NASDAQ: TRPH) and certain of its officers and directors by stockholders who purchased the company’s common stock between January 29, 2004 and October 22, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against Chicago Bridge & Iron Co. NV (CBI), certain of its officers and directors by stockholders who purchased the company's common stock between March 9, 2005 and February 3, 2006. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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