Kodak under informal SEC probe|
(Tuesday, August 9, 2005 - 19:36 EDT)
A news item from BusinessWeek Online details an ongoing (and informal) probe into Eastman Kodak Co. after the company restated its financial statements for 2003 and the first three quarters of 2004.
Eastman Kodak Co. noted last January that it had uncovered accounting mistakes that required its profits to be restated some $105 million lower over the almost two-year period. Company spokesman David Lanzillo reportedly commented to BusinessWeek:
"It's an informal inquiry related to the restatement of our 2003 full year and quarterly financial statements and the financial statements for the first three quarters of 2004. This type of inquiry is not unexpected following a restatement and we are cooperating fully."The company apparently also noted that the Securities and Exchange Commission had indicated the probe should not be taken as a sign that Kodak had committed any legal violations.