August 04, 2020

Bloomberg: Elizabeth Warren Seeks SEC Insider Trading Probe After Kodak Shares Surge

Senator Elizabeth Warren wants U.S. regulators to examine possible insider trading and disclosure violations involving Eastman Kodak Co. after the former film company’s shares soared when it announced a surprise foray into generic drugs with help from a $765 million government loan.

In a letter dated Tuesday, Warren asked the Securities and Exchange Commission to examine trading prior to Kodak’s July 28 announcement. On July 27, volume in the company’s shares surged and the stock rose about 20%. The stock had jumped more than 500% by the end of last week.

Read the full article on the Bloomberg website here

By:  Matt Robinson
Source: Bloomberg