8/4/2020, 6:54 PM (Source: TeleTrader)
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SEC investigates Kodak's government loan - report

The loan that Eastman Kodak Co. got from the United States government for production of active ingredients for generic drugs is under investigation by the US Securities and Exchange Commission (SEC), The Wall Street Journal reported on Tuesday, citing sources familiar with the matter.

One of the areas that SEC is looking into is the way that the company announced the news, the report read, noting that Kodak has allegedly reached out to news outlets before making an official statement, and reportedly took advantage of the surge in stock prices.

Kodak's shares plummeted over 3% after the report.

Breaking the News / BU