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Investigation: Kodak Stock Investment Losses
Our law firm is investigating whether registered stockbrokers and financial advisors inappropriately recommended that customers purchase common stock of Eastman Kodak Company (KODK).
Iorio Law PLLC is an investor advocate law firm based in New York, NY. We help investors recover financial losses due to wrongful conduct by financial advisors and brokerage firms.
If you suffered financial losses from an investment in Kodak stock recommended to you or purchased on your behalf by a stockbroker or financial advisor, contact New York securities arbitration attorney August Iorio of Iorio Law PLLC. August Iorio can be reached at info@iorio.law or toll-free at (646) 330-4624 for a free and confidential review of your legal rights.
Kodak Stock Volatility
Kodak stock soared nearly 3,000% in the days following President Trump’s July 28, 2020 announcement that the company would receive a now-halted $765 million government loan to produce drug ingredients at its U.S. factories.
On July 27, 2020, the day before the announcement, Kodak’s stock price closed at $2.62. Following the announcement, on July 29, 2020, the stock reached $60, as broker-dealers aggressively pushed Kodak stock to investors with promises of soaring returns. By the end of August 2020, the stock retreated to under $6 a share.
Since Labor Day, Kodak stock’s price has continued to remain volatile. In mid-September, over a three-day period, the stock price quickly doubled in value from under $6 to over $12. The stock price would subsequently fall back down to under $7 a share by the end of October 2020. Kodak’s stock price spiked again on December 7, 2020, this time nearly 100% to over $14 a share.
Best Interest
A financial advisor is required to make recommendations that are in the best interest of an investor.
Our law firm is investigating whether financial advisors acted in their customers’ best interest in connection with recommendations to purchase shares of Kodak stock any time on or after July 28, 2020.
If you suffered financial losses from an investment in Kodak stock, contact New York securities arbitration attorney August Iorio of Iorio Law PLLC. August Iorio can be reached at info@iorio.law or toll-free at (646) 330-4624 for a free and confidential review of your legal rights.
About Iorio Law PLLC
Iorio Law PLLC is a securities arbitration law firm located in New York, NY. We represent investors nationwide and vigorously pursue FINRA arbitration claims on behalf of investors to recover investment losses.
We have over 15 years of experience as securities arbitration lawyers and have helped investors recover investment losses in over 800 cases. The firm will file a FINRA securities arbitration claim on your behalf on a contingency fee basis to try to recover your losses. If we do not obtain a recovery, you do not owe us a legal fee.
This blog was published by August Iorio when he was a Partner at his previous firm and has been updated to reflect Iorio Law PLLC’s new contact information. To evaluate any potential claims, contact securities arbitration lawyer August Iorio for a free consultation contact Iorio Law PLLC at info@iorio.law or (646) 330-4624.