(CNBC) -- The Securities and Exchange Commission is investigating Eastman Kodak’s disclosure about getting awarded a $765 million loan from the U.S. government to start producing drug ingredients, which sent the stock up on heavy volume ahead of the official announcement, The Wall Street Journal reported Tuesday.
On July 27, a day before Kodak, as well as President Donald Trump, announced the deal to make ingredients in generic drugs in response to the coronavirus pandemic, shares of the film pioneer soared nearly 25% with trading volumes far exceeding those in previous sessions.
The 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.
The post $765 million: Kodak reportedly under SEC investigation appeared first on WND.
