Saturday, 15 May 2021

U.S. House committee urges SEC to dig into Kodak transactions

WASHINGTON (Reuters) – The U.S. House Financial Services Committee on Wednesday asked federal regulators to investigate securities transactions made by Eastman Kodak (KODK.N) and its executives around the time it learned it could receive a $765 million government loan.

The committee said it had “serious concerns” about the transactions and asked the Securities and Exchange Commission to investigate the circumstances surrounding the matter.

Kodak shares surged more than 1,000% last week, generating a windfall for executives, some of whom had received options one day prior to an announcement about the government loan.

Source: Read Full Article

Best News