UPDATE: Top House Democrats announce probe into Kodak's $765 million government loan
Democratic lawmakers who chair key House panels on Wednesday said they're investigating (https://financialservices.house.gov/uploadedfiles/2020.08.04_h_cmtes_ltr_to_dfc.pdf) how Eastman Kodak Co. (KODK) recently received a $765 million government loan to help it make drug ingredients at U.S. factories. Reps. Maxine Waters, Eliot Engel, Jim Clyburn, Carolyn Maloney and Al Green asked the U.S. International Development Finance Corporation to provide all communications with private sector entities regarding financing under the Defense Production Act loan program. The Securities and Exchange Commission has launched an investigation (http://www.marketwatch.com/story/kodak-shareholders-were-not-the-only-beneficiaries-of-the-sudden-stock-surge-holders-of-convertible-bonds-also-saw-tidy-gains-2020-08-04) into the trading in Kodak's stock before and after the news of the loan broke.
-Victor Reklaitis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 05, 2020 12:09 ET (16:09 GMT)
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