Yet more bad news comes out about distressed company Kodak. This time it's a warning from the New York Stock Exchange that Kodak will be delisted from the exchange since its share price has been under a dollar for 30 consecutive trading days. FORBES reports that the company "has six months to regain compliance with the minimum share price."
Recently, three board members departed, abruptly and with no explanation, not from them and not from Kodak. Here, on financial information powerhouse Motley Fool, I comment on the legal and branding perils facing board members when a company is approaching or in what's called a "zone of insolvency."
Before that, Kodak was having trouble shaking loose funding to keep it afloat. And before that it assigned to other duties the law firm Jones Day which it has hired to assist with restructuring and went with another law firm Sullivan & Cromwell.