Kodak $765M Federal Loan For Generic Drugs Paused Until Allegations Are Probed

Kodak is reportedly facing an investigation from the U.S. Securities and Exchange Commission related to its disclosure of the loan on July 27, which caused the company’s shares to surge 25% the same day.

The commission is also said to be looking into stock options granted to Kodak executives, including the company’s CEO Jim Continenza, according to the Wall Street Journal.

The chief executive was granted options on 1.75 million shares, a day before the loan was disclosed, a quarter of which were vested on the day the loan was granted.

Kodak announced an internal investigation to review matters related to the controversial government deal on Friday.

Price Action

Kodak shares fell almost 7.6% to $14.88 on Friday and declined another 0.54% in the after-hours session.

This seems extremely shady.

Can repubs do ANYTHING without shady money

THEY WERE GOING TO GICE KODAK 765 BILLION TO MAKE A PILL THAT DOESN’T WORK BUT THEY WON’T GIVE WORKING PEOPLE $1,200?

THE REPUBLICANS HAVE THE NERVE TO CUT THE WEEKLY RELIEF CHECKS??

*765 MILLION but you get the gist

Horrible people.

LOL, this was obviously a scam from the beginning. This administration has given up hiding that it is fleecing America. It knows it can get away with anything it wants.

Another day, another republicans scam.

That pic the article used is hilarious. It's exactly what people think of when they think of Kodak.