Eastman Kodak's $765 million U.S. loan agreement on hold after recent allegations

  • 📰 Reuters
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

Eastman Kodak Co's $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to 'recent allegations of wrongdoing,' the U.S. International Development Finance Corp (DFC) said.

FILE PHOTO: A worker cleans a Kodak booth at the Las Vegas Convention Center in preparation for 2019 CES in Las Vegas, Nevada, U.S. January 6, 2019. REUTERS/Steve Marcus/File Photo

Earlier this week, senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives around the time it learned it could receive the government loan.“We will not proceed any further unless these allegations are cleared,” the DFC said. It was referring to a letter of interest it signed on July 28 with Kodak.

Kodak shares surged more than 1,000% last week after the loan was announced, generating a windfall for executives, some of whom had received options one day earlier.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good!

Ask the Sec? They do nothing. Just watch corruption and greed and do nothing.

greta Could they be so clueless?

duh; cancel it too

Loooooooooooooooool

Me da mucha nostalgia por las fotografías análogas

That was a sleazy deal that will forever taint the Kodak product line. SleazyKodakMoment

Whoops! Do those Robinhood players have a right of rescission?

Kodak couldn't even keep up with the changes in photography

Ya think? trumpiscorrupt GrifterInChief VoteBlueToEndThisNightmare

Thank Elon

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kodak pharma deal held up over reported questions about stock moveIn a tweet Friday evening, the U.S International Development Finance Corporation said it was holding up a deal with Kodak as regulators reportedly look into trading activity that sent Kodak's shares surging on news of the initial agreement. Hard to believe any deal brokered by realDonaldTrump might have been.....suspicious, illegal If they can do it,it is a great deal This deal is the craziest thing I’ve ever seen in my life.
Source: CNBC - 🏆 12. / 72 Read more »

Fortunes Won and Lost Trading in Kodak Stock: Inside a Wild WeekFor one novice trader, news of Kodak’s government loan signaled the perfect time to buy. When he sold out of the stock only days later, he was down $30,000. “I guess what I learned is trading is just gambling. That’s a fact.” Trading is not the same as investment Highly depends on how you 'trade'... LMAOOOOOOOO
Source: WSJ - 🏆 98. / 63 Read more »

So, What Does Kodak Do These Days? A Decade of Pivots Before a Huge Federal LoanEastman Kodak, long a household name in photography, has spent recent years trying to maneuver out of bankruptcy and into new business areas. Its latest pivot brings it squarely into the fight against the coronavirus. Where is Martha Stewart? She can afford to sue Kodak for insider trading. So ridiculous nothing new. They have been in the medical laboratory instrument business for many years.
Source: WSJ - 🏆 98. / 63 Read more »

Kodak pharma deal held up over reported questions about stock moveIn a tweet Friday evening, the U.S International Development Finance Corporation said it was holding up a deal with Kodak as regulators reportedly look into trading activity that sent Kodak's shares surging on news of the initial agreement. Hard to believe any deal brokered by realDonaldTrump might have been.....suspicious, illegal If they can do it,it is a great deal This deal is the craziest thing I’ve ever seen in my life.
Source: CNBC - 🏆 12. / 72 Read more »

Romance Novels Help Shape Our Understanding of DesireRomance novels keep teaching us what we like, what we don’t like, and the happily ever afters we want for ourselves. Why does this pulp keep drifting across my home screen? Cool
Source: Slate - 🏆 716. / 51 Read more »

Payrolls increase by nearly 1.8 million, topping expectations despite coronavirus resurgenceThe total nonfarm payroll increased of 1.763 million for the month. The unemployment rate fell to 10.2%, also better than the estimates from economists surveyed by Dow Jones. azzclowns on CNBC wrong again Is there still PPP in this one? Great news. The American comeback is underway. Let's keep it up guys, we can do this together.
Source: CNBC - 🏆 12. / 72 Read more »