The instant shareholder derivative litigation arose from events surrounding a July 2020 Letter of Interest between nominal defendant Rochester-based New Jersey corporation Eastman Kodak and the U.S. International Development Finance Corp. (DFC) discussing DFC’s $765 million dollar loan supporting conversion of Kodak’s factories to produce pharmaceuticals.
Plaintiffs’ operative consolidated complaint alleged breaches of 1934’s Securities Exchange Act and fiduciary duties, and unjust enrichment by Kodak executives.
