Owners of Kodak Instant Cameras to Be Reimbursed
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CHICAGO — Eastman Kodak Co. agreed Monday to reimburse at least 4.2 million owners of its obsolete instant cameras as part of a proposed $150-million settlement of a class-action lawsuit against the company.
Under the settlement proposal, U.S. owners of the cameras would receive between $50 and $70 in cash and coupons.
Kodak stopped selling instant cameras and instant film after a federal court in 1985 said the company had violated patents held by Polaroid Corp.
The 39 camera models were made useless by the ruling, which barred the manufacture of compatible film.
Under the proposed agreement, filed with Cook County Circuit Judge Thomas Rakowski, instant camera owners would receive $50, $55, $60 or $70 in cash and Kodak coupons, depending on the model of their instant camera.
Cash and coupons will be disbursed when Rakowski gives his final approval to the settlement, which is expected Sept. 19.
The proposed settlement is limited to U.S. owners.
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