Kodak Still Under Investigation By SEC According To Congress Members

September 20, 2020

Despite Kodak clearing its own name with an internal investigation, several members of Congress are saying that this has no effect on the federal investigation into whether or not the company violated any securities laws.

The controversy began when Kodak announced that it would be making a massive pharmaceutical deal with the government. The deal included a $765 million loan to begin production of generic drug ingredients for the U.S.

The internal investigation concluded that Kodak CEO Jim Continenza got pre-clearance for the stock trades in question.

The members of Congress issued a statement Thursday, saying that the internal investigation raises even more questions and that they are going to push even harder now.

Spectrum News

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