The head of the U.S. House Financial Services Committee and other top Democratic lawmakers on Wednesday asked federal regulators to investigate securities transactions made by Eastman Kodak and its executives around the time it learned it could receive a US$765 million government loan.
Representative Maxine Waters, who chairs the committee, and the other lawmakers said they 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 1,000per cent last week after the loan was announced, generating a windfall for executives, some of whom had received options one day earlier.
The SEC has declined to comment on a report saying that it would investigate, and Trump did not elaborate. Kodak has said it will cooperate with any potential inquiries.
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