U.S. House committee urges SEC to dig into Kodak transactions By Reuters

© Reuters. FILE PHOTO: A worker cleans a Kodak booth at the Las Vegas Convention Center in preparation for 2019 CES in Las Vegas

WASHINGTON (Reuters) – The U.S. House Financial Services Committee on Wednesday asked federal regulators to investigate securities transactions made by Eastman Kodak (N:) and its executives around the time it learned it could receive a $765 million government loan.

The committee said it had “serious concerns” about the transactions and asked the Securities and Exchange Commission to investigate the circumstances surrounding the matter.

Kodak shares surged more than 1,000% last week, generating a windfall for executives, some of whom had received options one day prior to an announcement about the government loan.

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