Huge shares of pre-camera-film Eastman Kodak (NYSE: Kodak) An explosion outside the gate this morning, rocking at 83% before he stopped to catch his breath and retreated slightly. By 11:20 a.m. EDT on Wednesday, however, the stock was still very much up 37..8%.
And all because of the Eastman codec.
Like The Wall Street Journal A committee appointed by Eastman Kodak’s board to investigate the circumstances surrounding the US government’s 7 65,765 million loan in July found that Kodak had not broken any laws, the report said this morning.
The loan was to help Kodak in the production of pharmaceutical ingredients for the fight against Kodakairas, and that Kodak shares rise – Just before the official announcement of the loan. The investigation focused on the theory that internal leaks would have been encouraged by leaks of information within the company, and that Kodak may have given stock options to top executives prior to the loan announcement so that they could benefit from it. But a special committee set up by Kodak’s law firm Akin Gump found no such irregularities.
But there is still talk of a federal investigation into the company. Yesterday, for example, this Journal The Inspector General of the US International Development Finance Corporation (IDFC) is reportedly opening a review of the loan. And this is at the top of the ongoing investigation by the Securities and Exchange Commission and several congressional committees.
There is no guarantee that these other investigations will come to the same conclusions as those taken by Kodak’s own investigation. In the meantime, IDFC has deferred payment of the loan amount to Kodak, and the money is not likely to be released until this other investigation is completed.
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