Kodak sues Samsung, then files for Bankruptcy

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Kodak confirmed Wednesday night that it has filed for Chapter 11 Bankruptcy. In its statement, the struggling camera and photography company confirmed it filed for Bankruptcy and hired Dominic DiNapoli as its Chief Restructuring Officer. Kodak will continue to do business during the Chapter 11 proceedings and hopes to emerge from the bankruptcy in 2013.

In a separate development, Kodak filed a lawsuit against Samsung claiming its Galaxy Tab and other tablet device violate its patents. Samsung settled a similar suit  that targeted the company’s Android phones. As part of the agreement, Samsung paid Kodak $550 million. Bolstered by its success, the company is now going after Samsung’s tablets with the same patent infringement allegation. The company owns over 1,1000 digital patents and is using these lawsuits as a way to raise the money it desperately needs. Besides Samsung, Kodak also recently sued Apple and HTC.

[Via WSJ and AllThingsD]

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    I know it is tough for kodak to go through a bankruptcy and restructuring, but I guess when all else fails, find someone to sue. It is unfortunate, but just a fact of life in the big city I guess.

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    Very sad to hear that Kodak filed for bankruptcy.  That company has been around for a long time and it is always alarming to hear about these things.

  • http://www.guardiantaxresolutions.com/ tax help

    Very sad to hear that Kodak filed for bankruptcy.  That company has been around for a long time and it is always alarming to hear about these things.

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