Major investigation on Kodak’s government loan agreement
The United States of America government will quickly survey the circumstances surrounding Eastman Kodak Co-operation declaration of almost $765 million government loan to generate drugs at its United States factories, said by American president Donald Trump. The shares of the company halted down 3.61 percent at $14.40 after the Wall Street Journal registered earlier that the US securities and Exchange Commission would survey the agreement.
American president told that the concept of the government loan arrangement was good as it would help Kodak branch to move into a newest business zone, but he was not personally included in the agreement. We need to work out on that, and we have to find out if there is any difficulty, we will let you know about it quickly.
The survey of the SEC is at an earlier stage and may not generate problems of wrong performing by Kodak or any individuals. The SEC declined to this comment. A Kodak representative said that this government loan intends to completely cooperate with any possible inquires. The United States Senator Elizabeth Warren said that the SEC urging that it survey desirable insider trading before than government loan was declared. There was huge trading volume in Kodak shares the day before the declaration.