The Securities and Exchange Commission is investigating how Eastman Kodak handled the announcement of a $765 million deal with the U.S. government to produce COVID-19 drug ingredients, theTuesday, increasing scrutiny of a blockbuster deal beset by allegations of insider trading and suspicious transactions.... [+]KEY FACTS
The day before Kodak was set to officially announce the $765 million loan from the Trump administration, the company sent local news outlets in Rochester, New York, an early copy of the announcement—but did not indicate the news was not meant to held until the next day, according to theAfter local ABC and CBS affiliates published stories on the deal on July 27, trading volume skyrocketed and share prices rose nearly 25%; after the official announcement on July 28, the stock gained more than...
The agency is also investigating additional allegations of insider trading, specifically involving 1.75 million in stock options granted to CEO Jim Continenza the day before the official loan announcement, though the company hasthose were regularly scheduled purchases and SEC filings indicate that Continenza has not yet cashed in by selling off any shares.
The investigation comes a day after Sen. Elizabeth Warren called for the SEC to probe Kodak, calling it “the latest example of unusual trading activity involving a major Trump administration decision.” The SEC is early in its investigation and it’s unclear if the probe will result in allegations of wrongdoing, according to theChief critic, an external spokesperson said Kodak’s internal communications team never intended for the announcement to be published ahead of time, and thereported that journalists were told to delete the information after it went public.
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Kodak reportedly under SEC investigation over disclosure of U.S. drug producing dealThe SEC's probe, which is still at an early stage, is focused on how Kodak disclosed the deal with the government, the Journal reported, citing people familiar with the matter. They’ll pay like $200,000 fine and move on after fking up bunch of investors.
Source: CNBC - 🏆 12. / 72 Read more »
Kodak Loan Disclosure and Stock Surge Under SEC InvestigationThe Securities and Exchange Commission is investigating the circumstances around Eastman Kodak’s announcement of a $765 million government loan to make drugs at its U.S. factories, according to people familiar with the matter. I would say Jared Kushneris finished.....But we all know Trump's SEC is useless 😴😴😴 How many Trump family members and GOP politicians will be found out? Gee... You think there wouldn't be any insider trading on this? Seems like something obviously rife w/ insider potential.
Source: WSJ - 🏆 98. / 63 Read more »
SEC investigates Kodak's U.S. government loan disclosure: WSJThe U.S. Securities and Exchange Commission is investigating the circumstances around Eastman Kodak Co's announcement of a $765 million government loan to make drugs at its U.S. factories, the Wall Street Journal reported on Tuesday. Yippee! Loeffler, Kushner, Trump. And others probably made some investments. Oh, those b/millionaires are in for such a wrist slapping!
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The Latest Money Insanity: The SEC Wants Retail Investors To Invest In Private EquityThe SEC gets into the sales business, promoting the idea of retail investors putting money into private equity. This is a bad move. Pliz retwwet ZimbabweanLivesMatter Insanity is the only way to describe it. The last thing that an average person should do is put their retirement money at risk.
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'Didn't have to be this way': Obama Ed. sec. calls back to school struggle 'heartbreaking''It didn’t have to be this way,' fmr. U.S. Secy. of Education John King Jr. says of schools reopening without a national plan. 'The failure of the Trump administration to adequately address the pandemic is how we got here.' Blah Why is post office still open then Yes, Teachers Union call for defunding police and closing down Charter schools! This is how they fight the virus
Source: MSNBC - 🏆 469. / 51 Read more »
Kodak reportedly under SEC investigation over disclosure of U.S. drug producing dealThe SEC's probe, which is still at an early stage, is focused on how Kodak disclosed the deal with the government, the Journal reported, citing people familiar with the matter. They’ll pay like $200,000 fine and move on after fking up bunch of investors.
Source: CNBC - 🏆 12. / 72 Read more »