Elizabeth Warren calls for insider-trading investigation after Kodak shares spike 2,190%

Posted On: Aug 4, 2020   |   Posted By: Business Insider

Elizabeth Warren calls for insider-trading investigation after Kodak shares spike 2,190%

Sen. Elizabeth Warren asked the Securities and Exchange Commission to investigate possible insider trading of Eastman Kodak shares before the public announcement of a $765 million government loan to make drug ingredients.
Kodak shares spiked as much as 2,190% in the two days following the announcement, yet it also gained as much as 26% the day before information of the loan was made publicly available.
"This is just the latest example of unusual trading activity involving a major Trump administration decision," Warren wrote in the letter dated Monday.
Warren urged the SEC to probe individuals and corporate entities making large trades of Kodak stock before the July 28 announcement, as well as whether anyone inside Kodak shared information on the loan before it was made public.
Watch Kodak stock trade live here .
Sen. Elizabeth Warren urged the Securities and Exchange Commission to look into possible insider trading of Eastman Kodak stock after its price surged on news of a $765 million government...

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