Kodak gets massive loan, turns into drug component maker

Started 6 months ago | Discussions thread
Memoochi
Memoochi Regular Member • Posts: 148
10 years easily

MHshooter wrote:

justmeMN wrote:

"Kodak shares plunge after U.S. blocks $765 million loan deal"

"(Reuters) - Shares of Eastman Kodak Co (KODK.N) fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of “alleged wrongdoing” by executives."

https://www.reuters.com/article/us-eastman-kodak-stocks-idUSKCN2561JE?taid=5f318553d7d51b00018356b1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

If this turns out to be some scumbag executive who lined his pockets after getting insider info on the deal, he should get 10 years for it. But likely won't.

The SEC may kowtow to Elon Musk, but they are super-tough on insider trading.  It certainly sounds like these folks abused their duty as board members to enrich themselves.  If this does hold up, they will be going away a long, long time.

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