A worker cleans a Kodak booth at the Las Vegas Convention Center in Las Vegas, Nevada, the US. Picture: REUTERS/STEVE MARCUSHouse Democrats have launched an investigation into Eastman Kodak’s $765m government loan and are seeking documents from a US agency involved in granting the proposed funding.
In a letter to the DFC on Wednesday, the Democrats questioned why the agency would “support Kodak, an organisation that was on the brink of failure in 2012 and was unsuccessful in its previous foray into pharmaceutical manufacturing”. Democratic senator Elizabeth Warren also called for the Securities and Exchange Commission to investigate possible insider trading and disclosure violations tied to Kodak’s announcement. Volume in the company’s shares soared July 27 and the stock rose about 20%.
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