If you are a current or former Kodak employee, or are a member of the Eastman Kodak Employees’ investment plan or profit sharing retirement plan, you may be entitled to compensation for losses in your Kodak retirement fund.  If you purchased or held Kodak stock in one of these plans at any time from January 1, 2010 thru January 19, 2012, you may have a claim in a possible Kodak class action lawsuit against Kodak.

As background, Employee Retirement Income Security Act (ERISA) is a federal law that sets minimum standards for pension and health plans set up by private businesses. ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company. Stock options are a form of compensation in which employees are given the opportunity to purchase shares of the company stock at a certain price.

Under ERISA, Kodak employees can file a lawsuit against the company for putting stock options at risk. Kodak employees have a claim if they can prove their employer violated its “fiduciary duty” to its employees. A “fiduciary” is a person or company that exercises discretion over the management of plan assets or exercises discretionary control over the administration of the plan.  A “fiduciary duty” refers to a fiduciary’s responsibility to the people who invest in it. For example, if an employer puts the company’s interest ahead of the investors’, it has broken its fiduciary duty to investors.

If you have experienced losses in your Kodak retirement plan, you may qualify for damages or remedies that may be awarded in a possible class action lawsuit seeking to recover such losses. Please contact the attorneys below if you participated in a Kodak Employees’ investment plan or profit sharing retirement plan at any time from January 1, 2010 thru January 19, 2012.