MIAMI — The Securities and Exchange Commission has sued a Florida man over his mysterious recent offers to buy all stock in Eastman Kodak Co. and the parent of American Airlines.
The SEC lawsuit contends that 45-year-old Allen E. Weintraub lacks any means to complete the offers. The SEC says Weintraub has been convicted of past fraud charges and never paid a previous SEC judgment of over $1 million. The lawsuit asks a judge to halt Weintraub from making such stock offers.
The offers generated wide publicity in March. Weintraub's inactive company, Sterling Global Holdings, offered $1.3 billion for all outstanding Kodak stock and $3.25 billion for stock in AMR Corp., the American Airlines parent.
Phone messages left for Weintraub were not immediately returned Wednesday. No lawyer was listed in court records.