‘NY attorney general James demands #Kodak CEO testify on alleged insider trading’
“The petition, filed with the New York County State Supreme Court, claims that chief executive Jim #Continenza bought shares of his company's stock while…”
#InsiderTrading
cnbc.com/2021/06/01/ny-…
“The petition, filed with the New York County State Supreme Court, claims that chief executive Jim #Continenza bought shares of his company's stock while…”
#InsiderTrading
cnbc.com/2021/06/01/ny-…
“… while #Kodak was in non-public talks with the White House over a loan worth hundreds of millions of dollars.”
cnbc.com/2021/06/01/ny-…
cnbc.com/2021/06/01/ny-…
https://twitter.com/desderamona/status/1377241260264656904
NY AG “James says that #Kodak falsely claimed in two separate public filings with the [SEC] on May 17, 2021, that the trades were 'in compliance with the Company's insider trading policy, including pre-approval by its general counsel.'”
whec.com/rochester-new-…
whec.com/rochester-new-…
“In April 2020, #Kodak held an initial discussion with White House officials including trade adviser Peter Navarro about leveraging its longstanding & lesser-known chemicals business to produce pharmaceutical ingredients that can be sold to drugmakers…”
reuters.com/business/eastm…
reuters.com/business/eastm…
“…In May 2020, …Trump signed an executive order authorizing the U.S. International Development Finance Corporation (DFC) under the Defense Production Act to lend money supporting domestic production and supply chains to help combat the pandemic.”
#Kodak
reuters.com/business/eastm…
#Kodak
reuters.com/business/eastm…
https://twitter.com/desderamona/status/1301134223605198851
“James said that in the past, her office has used Section 354 of the #MartinAct, a state securities law, to shine a light on illegal behavior.
The petition filed with the court this week by the attorney general indicates that she is seeking additional…”
wskg.org/news/new-york-…
The petition filed with the court this week by the attorney general indicates that she is seeking additional…”
wskg.org/news/new-york-…
“… that she is seeking additional evidence before filing the insider trading lawsuit against #Kodak and its CEO.”
wskg.org/news/new-york-…
wskg.org/news/new-york-…
https://twitter.com/desderamona/status/1301134846132195333
“Last July, #Kodak announced a deal with the U.S. International Development Finance Corporation. Under a letter of intent signed by the two parties, the DFC would loan Kodak $756 million to make pharmaceutical ingredients. The company’s stock soared in…”
13wham.com/news/local/ny-…
13wham.com/news/local/ny-…
“… in the days that followed the announcement.
That deal was put on hold, however, after allegations arose that #Continenza and other members of the Board of Directors bought large amounts of stock ahead of that announcement.”
#Kodak
13wham.com/news/local/ny-…
That deal was put on hold, however, after allegations arose that #Continenza and other members of the Board of Directors bought large amounts of stock ahead of that announcement.”
#Kodak
13wham.com/news/local/ny-…
https://twitter.com/blacksciblog/status/1289986821858791424
4 Aug 2020
‘Sen. Warren calls for SEC insider trading investigation into #Kodak’
The announcement sent Kodak's stock soaring, the price of shares quadrupling between the close of the market the Monday before the news and the morning of the following…”
13wham.com/news/local/war…
‘Sen. Warren calls for SEC insider trading investigation into #Kodak’
The announcement sent Kodak's stock soaring, the price of shares quadrupling between the close of the market the Monday before the news and the morning of the following…”
13wham.com/news/local/war…
"'… With regard to #Kodak, analysts have observed an unusual trading pattern in company stock that began prior to the public announcement,' Warren wrote.”
13wham.com/news/local/war…
13wham.com/news/local/war…
https://twitter.com/senwarren/status/1306354390547271683
“James’ investigation concerns multiple events beginning w/#Continenza’s purchase of stock in the midst of the COVID-19 pandemic. The press release explained that the public health crisis reportedly ‘exposed domestic shortages in the chemical building…’”
lawstreetmedia.com/tech/new-york-…
lawstreetmedia.com/tech/new-york-…
“… exposed domestic shortages in the chemical building blocks used to make medicines.’
#Continenza allegedly made the stock purchase in June while he was engaged in private negotiations with the Trump White House and the federal government for a $655…”
lawstreetmedia.com/tech/new-york-…
#Continenza allegedly made the stock purchase in June while he was engaged in private negotiations with the Trump White House and the federal government for a $655…”
lawstreetmedia.com/tech/new-york-…
https://twitter.com/senwarren/status/1296553264293523459
“… a $655 million loan, pursuant to which #Kodak would repurpose legacy assets in Rochester, New York to produce chemicals to address the deficiency.”
lawstreetmedia.com/tech/new-york-…
lawstreetmedia.com/tech/new-york-…
https://twitter.com/desderamona/status/1037731834455621634
17 Aug 2020
''You can't fix stupid' — Trump trade advisor Peter Navarro rips #Kodak executives as dumbest ever’
"Based on what I'm seeing, what happened at Kodak was probably the dumbest decisions made by executives in corporate history," Navarro said.
cnbc.com/2020/08/17/whi…
''You can't fix stupid' — Trump trade advisor Peter Navarro rips #Kodak executives as dumbest ever’
"Based on what I'm seeing, what happened at Kodak was probably the dumbest decisions made by executives in corporate history," Navarro said.
cnbc.com/2020/08/17/whi…
“When a proposed $765 million contract was made public in late July between #Kodak #KODK, 9.45% and the federal government, investors and lawmakers had questions, chief among them: Why pick Kodak, a struggling photography company?”
wsj.com/articles/what-…
wsj.com/articles/what-…
“‘By the time this thing ramps up, 25% of the [active pharmaceutical ingredients] for generics we need in the United States is going to be right at that facility,’ Navarro said. ‘It's going to be the renaissance of the great state of New York as…’”
foxbusiness.com/money/kodak-ph…
foxbusiness.com/money/kodak-ph…
“‘… New York as an industrial power.’
The administration's push to reshore pharmaceutical manufacturing comes after many U.S. leaders expressed concerns about U.S. reliance on India and especially China for pharmaceuticals.”
#Kodak
#KodakLoan
foxbusiness.com/money/kodak-ph…
The administration's push to reshore pharmaceutical manufacturing comes after many U.S. leaders expressed concerns about U.S. reliance on India and especially China for pharmaceuticals.”
#Kodak
#KodakLoan
foxbusiness.com/money/kodak-ph…
https://twitter.com/desderamona/status/1037732902925156353
2 Sept 2020
“The cancellation came after another transaction Navarro championed, a government loan to fund Eastman #Kodak’s transformation into a drugmaker, unraveled and became embroiled in a securities investigation. The watchdog panel says it is …”
washingtonpost.com/us-policy/2020…
“The cancellation came after another transaction Navarro championed, a government loan to fund Eastman #Kodak’s transformation into a drugmaker, unraveled and became embroiled in a securities investigation. The watchdog panel says it is …”
washingtonpost.com/us-policy/2020…
“… The watchdog panel says it is broadening its inquiry to examine all of Navarro’s deals.”
#Kodak
washingtonpost.com/us-policy/2020…
#Kodak
washingtonpost.com/us-policy/2020…
https://twitter.com/desderamona/status/1187980584494215168
12 Aug 2020
‘U.S. Puts #Kodak Deal On Hold Amid Scrutiny Of Its Finances’
“The Trump administration's decision to entrust $765 million of taxpayer money to Eastman Kodak raised several questions about the financial vetting of the struggling camera …”
npr.org/2020/08/12/901…
‘U.S. Puts #Kodak Deal On Hold Amid Scrutiny Of Its Finances’
“The Trump administration's decision to entrust $765 million of taxpayer money to Eastman Kodak raised several questions about the financial vetting of the struggling camera …”
npr.org/2020/08/12/901…
“… camera company even before the deal was put on hold amid an investigation into potential insider trading. …”
the camera-maker's troubled history — it failed to adapt to the digital age and has struggled in recent years — immediately raised concerns on Capitol Hill.”
#Kodak
the camera-maker's troubled history — it failed to adapt to the digital age and has struggled in recent years — immediately raised concerns on Capitol Hill.”
#Kodak
https://twitter.com/desderamona/status/1329110981637795840
28 July 2020
‘#Kodak tapped to be leader in U.S. prescription drug manufacturing’
“Americans use about 40% of the world’s supply of bulk materials used to make generic prescription drugs. Of that supply, just 10% is manufactured in the U.S.”
13wham.com/news/local/fed…
‘#Kodak tapped to be leader in U.S. prescription drug manufacturing’
“Americans use about 40% of the world’s supply of bulk materials used to make generic prescription drugs. Of that supply, just 10% is manufactured in the U.S.”
13wham.com/news/local/fed…
6 Aug 2020
“The company's chief executive officer and a small set of insiders made hundreds of millions of dollars on paper, and possibly in cash in some cases …
That required an uncanny chain of events starting with the investors acquiring …”
#Kodak
nbcnews.com/politics/donal…
“The company's chief executive officer and a small set of insiders made hundreds of millions of dollars on paper, and possibly in cash in some cases …
That required an uncanny chain of events starting with the investors acquiring …”
#Kodak
nbcnews.com/politics/donal…
“… millions of low-value shares of a company on the rocks, the Trump administration inverting the purpose of a foreign-development law and the shareholders riding a broader wave of market excitement over the government's newfound interest in #Kodak to discover new riches.”
https://twitter.com/SenWarren/status/1290649793958678532
“…George #Karfunkel, a billionaire investor, & his wife, Renee, bought more than 4 million shares, bringing their total to 6.7 million shares — or about 15% of the company, and Moses #Marx, a billionaire real-estate investor, bought 5.6 million shares, or about 13%.”
#Kodak
#Kodak
https://twitter.com/newyorkstateag/status/1399802893344116742
30 Oct 2020
‘Nothing to see here, says #Kodak report’
Jim #Continenza
Executive Chairman and CEO
Board member Philippe #Katz
Board member George #Karfunkel
Congregation Chemdas Yisroel
Moses #Marx
father-in-law of Katz
Southeastern
Roger Byrd
insideimaging.com.au/2020/nothing-t…
‘Nothing to see here, says #Kodak report’
Jim #Continenza
Executive Chairman and CEO
Board member Philippe #Katz
Board member George #Karfunkel
Congregation Chemdas Yisroel
Moses #Marx
father-in-law of Katz
Southeastern
Roger Byrd
insideimaging.com.au/2020/nothing-t…
“#Marx is chairman of the board of The Berkshire Bank in Manhattan, and George #Karfunkel is one of the bank's directors, along with Joseph #Fink and Philippe #Katz, who acquired stock in #Kodak with Marx through a set of companies, according to SEC …”
news.yahoo.com/trumps-perfect…
news.yahoo.com/trumps-perfect…
“… according to SEC records and Berkshire's website. #Katz and #Fink are #Marx's sons-in-law, according to a 2013 SEC filing. George #Karfunkel and Katz have been members of #Kodak’s board of directors since 2013 and 2019, respectively.”
news.yahoo.com/trumps-perfect…
news.yahoo.com/trumps-perfect…
https://twitter.com/Slushees4Pete/status/1288448113884016646
5 Aug 2020
“this small cohort of investors bought up a substantial portion of the 44 million outstanding shares of a company in dire need of a turnaround. At the time, #Kodak was trading for about $2.50 per share, which is where it sat 10 days ago.”
headtopics.com/us/analysis-tr…
“this small cohort of investors bought up a substantial portion of the 44 million outstanding shares of a company in dire need of a turnaround. At the time, #Kodak was trading for about $2.50 per share, which is where it sat 10 days ago.”
headtopics.com/us/analysis-tr…
“An inspector general's report found no misconduct over a $765 million loan to Eastman #Kodak that stalled, but Congress is still investigating the loan, according to a recent statement issued by the House Select Committee on the Coronavirus Crisis.”
nbcnews.com/politics/joe-b…
nbcnews.com/politics/joe-b…
‘Before It Got a Sweetheart Deal From Trump, #Kodak Sponsored His Show’
“Kodak did dramatically ramp up its lobbying activities in the months prior, dropping an unprecedented $870,000 on its D.C. influence operation in the second quarter of the year. …”
thedailybeast.com/before-it-got-…
“Kodak did dramatically ramp up its lobbying activities in the months prior, dropping an unprecedented $870,000 on its D.C. influence operation in the second quarter of the year. …”
thedailybeast.com/before-it-got-…
“…But the company had another unique & less well-known political asset: a longstanding business relationship w/Donald Trump himself.”
Throughout Trump’s career…Kodak paid for coveted—and expensive—promotional spots on NBC’s Celebrity Apprentice”
#Kodak
thedailybeast.com/before-it-got-…
Throughout Trump’s career…Kodak paid for coveted—and expensive—promotional spots on NBC’s Celebrity Apprentice”
#Kodak
thedailybeast.com/before-it-got-…
https://twitter.com/sruhle/status/1288835646430339073
‘Eastman #Kodak top executive got Trump deal windfall on an 'understanding''
“The decision to grant #Continenza options was never formalized or made into a binding agreement, which is why it was not disclosed previously, according to the person …”
reuters.com/article/us-usa…
“The decision to grant #Continenza options was never formalized or made into a binding agreement, which is why it was not disclosed previously, according to the person …”
reuters.com/article/us-usa…
“…[#Kodak] has struggled to reinvent itself from a flagging camera company after emerging from bankruptcy in 2013. Its selection by the U.S. government … surprised many industry analysts who expected such a deal to go to a major generic drug maker.”
reuters.com/article/us-usa…
reuters.com/article/us-usa…
https://twitter.com/sruhle/status/1289913250373496835
28 July 2020
The U.S. government says it will use the [DPA] to help transform a legacy photographic film maker into a producer of pharmaceutical ingredients, including those for hydroxychloroquine, the anti-malarial President Donald Trump has …”
#Kodak
voanews.com/economy-busine…
The U.S. government says it will use the [DPA] to help transform a legacy photographic film maker into a producer of pharmaceutical ingredients, including those for hydroxychloroquine, the anti-malarial President Donald Trump has …”
#Kodak
voanews.com/economy-busine…
“… for hydroxychloroquine, the anti-malarial President Donald Trump has touted as a treatment to ward off the coronavirus. …
Democratic Party members of Congress are questioning why the DFC is taking on a domestic role for which it was not intended.”
voanews.com/economy-busine…
Democratic Party members of Congress are questioning why the DFC is taking on a domestic role for which it was not intended.”
voanews.com/economy-busine…
https://twitter.com/desderamona/status/1399888506852368384
‘#Kodak Spent Big Money Lobbying Trump Before Scoring $765 Million COVID Deal’
“Kodak jump-started its dormant lobbying operation, spending unprecedented sums to influence D.C. policymakers. …
Trump initially claimed credit for the agreement, but …”
thedailybeast.com/kodak-spent-bi…
“Kodak jump-started its dormant lobbying operation, spending unprecedented sums to influence D.C. policymakers. …
Trump initially claimed credit for the agreement, but …”
thedailybeast.com/kodak-spent-bi…
“… Trump initially claimed credit for the agreement, but by Tuesday, after reports of the SEC probe, Trump was distancing himself from it. ‘I had nothing to do with that deal,’ he said at his daily coronavirus press conference.”
#Kodak
#DPA
thedailybeast.com/kodak-spent-bi…
#Kodak
#DPA
thedailybeast.com/kodak-spent-bi…
https://twitter.com/desderamona/status/893920962906861569
12 April 2021
“The administration’s loan to #Kodak, which had pursued an ill-fated foray into drug manufacturing that ended in 1994, was paused last year amid probes by multiple congressional committees. House investigators also learned that Kodak …”
washingtonpost.com/health/2021/03…
“The administration’s loan to #Kodak, which had pursued an ill-fated foray into drug manufacturing that ended in 1994, was paused last year amid probes by multiple congressional committees. House investigators also learned that Kodak …”
washingtonpost.com/health/2021/03…
“… #Kodak executives had warned federal officials in March 2020 that the company would need a waiver from the [FDA]’s current good manufacturing practices — federal standards … needed to produce safe and effective pharmaceuticals.”
#KodakLoan
#DPA
washingtonpost.com/health/2021/03…
#KodakLoan
#DPA
washingtonpost.com/health/2021/03…
https://twitter.com/desderamona/status/990954793706442752
“… Meanwhile, #Navarro and his staff worked with #Kodak to shape its proposal after the company first pitched the White House in March 2020 on producing #hydroxychloroquine … and encouraged the company to increase its loan request, the Democrats said.”
washingtonpost.com/health/2021/03…
washingtonpost.com/health/2021/03…
https://twitter.com/desderamona/status/1257792185765957632
25 Oct 2020
“But critics immediately questioned why #Kodak could not secure financing through the capital markets and were dubious the effort would help address the immediate health crisis. …
the effort to prop up Kodak ‘appears to be taking a page…’”
nytimes.com/2020/10/25/bus…
“But critics immediately questioned why #Kodak could not secure financing through the capital markets and were dubious the effort would help address the immediate health crisis. …
the effort to prop up Kodak ‘appears to be taking a page…’”
nytimes.com/2020/10/25/bus…
“…the effort to prop up #Kodak ‘appears to be taking a page out of China’s playbook,’ which the administration has criticized for helping ‘zombie’ companies and politically connected firms, causing economic distortions.”
Jim #Continenza
Philippe D. #Katz
nytimes.com/2020/10/25/bus…
Jim #Continenza
Philippe D. #Katz
nytimes.com/2020/10/25/bus…
https://twitter.com/mrspanstreppon/status/1331338371210338311
“The options grant to #Kodak’s executive chairman and chief executive officer, Jim #Continenza, is the latest example of executives and board members at companies receiving such federal support to benefit from extraordinarily good timing. A number of …”
nytimes.com/2020/07/31/bus…
nytimes.com/2020/07/31/bus…
“… A number of those companies are involved in the hunt for vaccines and treatments for Covid-19.”
#Kodak
#Continenza
nytimes.com/2020/07/31/bus…
#Kodak
#Continenza
nytimes.com/2020/07/31/bus…
https://twitter.com/desderamona/status/1384906330515939328
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