Kodak Acknowledges Mistakes With Financial Deals

Kodak is acknowledging a mistake when it awarded stock option grants to CEO Jim Continenza ahead of the company's big government loan announcement in July.

A review by a Washington law firm determined Kodak's general counsel didn't properly advise Kodak directors on the risks of awarding the grants ahead of the big news the next day.

The review found officers and directors did nothing illegal with the deals just prior to the announcement Kodak was getting a government loan to make ingredients for prescription drugs.

The review did, however, recommend some policy changes.

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