Connolly Wells & Gray, LLP and Izard Nobel LLP Announce a Proposed $9.7 Million Cash Settlement of an ERISA Class Action on Behalf of Certain Participants in the Kodak Employee Stock Ownership Plan and the Eastman Kodak Employees' Savings and Investment Plan

NEW YORK, June 1, 2016 /PRNewswire/ -- In the United States District Court for the Western District of New York, in In re Eastman Kodak ERISA Litigation, Civil Action No. 12-06051-DGL, a Settlement Notice has been mailed as well as published on the Settlement website at www.KodakERISAsettlement.com, a summary of which follows:

Summary Notice of Proposed Class Action Settlement and Scheduling of Fairness Hearing

If you are a member of the class described above, your rights will be affected and you may be entitled to a payment from the Settlement Fund. Please read carefully.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-referenced action has been certified as a class action for purposes of a proposed $9.7 million cash settlement, subject to review and final approval by the Court. As part of the proposed Settlement, Settlement Class Members who show a loss under the proposed Plan of Allocation may be entitled to a payment under the terms of the Settlement. You do not need to do anything to receive a payment under the Settlement if you are entitled to one, but your rights will be affected. The Settlement includes a release of claims related to the administration of the ESOP and SIP (together, the "Plans") and the selection of investment options under the Plans.

A Fairness Hearing has been scheduled before Judge David G. Larimer of the United States District Court for the Western District of New York in the Kenneth B. Keating Federal Building, 100 State Street, Rochester, NY  14614, at 2:00 p.m., on August 22, 2016, to determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the proposed Plan of Allocation and Plaintiffs' Counsel's applications for attorneys' fees, expenses, and Case Contribution Awards.

You cannot exclude yourself from the Settlement. You can, however, file written comments or objections with the Court. You or your lawyer may also appear and request the opportunity to speak at the Fairness Hearing at your own expense. To do so, you must send your comments and/or objections to the Court and the Parties' attorneys no later than August 1, 2016. Detailed instructions can be found on the Settlement website at www.KodakERISAsettlement.com, where you can also obtain a more detailed Class Notice about the terms of the Settlement, how the existence of a qualifying loss will be determined, and how the payments will be calculated, along with the Class Action Settlement Agreement and related materials. Additional information and materials, including Class Counsel's application for attorneys' fees, will be posted on the Settlement website as they are filed with the Court. You may also write to In re Eastman Kodak ERISA Litigation Settlement, c/o A.B. Data, Ltd., Settlement Administrator, P.O. Box 170500, Milwaukee, WI  53217 to request copies of these materials.

All other inquiries may be made by writing to Class Counsel at the following addresses:

Published by Order of the U.S. District Court for the Western District of New York

SOURCE Connolly Wells & Gray, LLP and Izard Nobel LLP