Markets

Kodak admits an internal error allowed former executives to make more than $5 million selling stock options they never owned

Former Eastman Kodak executives sold about $US5.1 million in stock options they didn’t own due to faulty company controls, the company said. Five former employees exercised roughly 300,000 in stock options that they only received through “inadequate” controls and “unauthorised issuance,” chief financial officer David Bullwinkle said in a Tuesday […]
Kodak admits an internal error allowed former executives to make more than $5 million selling stock options they never owned
Markets

Kodak rockets 52% after hedge fund scoops up nearly 4 million shares

Eastman Kodak soared as much as 52% in early Tuesday trading after an SEC filing revealed hedge fund D. E. Shaw & Co. buying more than 3.9 million shares of the company. The purchase represents a 5.2% stake in Kodak. Kodak’s stock price has settled around 40% higher year-to-date after […]
Kodak rockets 52% after hedge fund scoops up nearly 4 million shares
Markets

Sen. Elizabeth Warren unloads on the ‘fiasco’ around Kodak’s $765 million government loan, calls for new investigation, report says

Sen. Elizabeth Warren unloaded on the Trump administration’s decision to award Kodak a $US765 million government loan and then revoke it, according to a letter viewed by CNBC. Warren also encouraged the federal oversight board responsible for monitoring the spending of COVID-19 relief funds to launch an investigation into the […]
Sen. Elizabeth Warren unloads on the ‘fiasco’ around Kodak’s $765 million government loan, calls for new investigation, report says