The well-known photo brand wanted to run its business and make drugs, but the United States International Development Finance Corporation suspended the loan.
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Kodak, a well-known photo brand, applied for a loan to start manufacturing medicines in the United States. However, that loan, which was supposed to be used to manufacture Kodak Pharmaceutical, was suspended by the American country’s International Development Finance Corporation.
As reported The Wall Street JournalThe US Securities and Exchange Commission (SEC) opened an investigation into Eastman Kodak’s announcement of the $ 765 million loan to establish the pharmaceutical company.
This credit will not be released until allegations are resolved that Kodak executives improperly used inside information to sell company stock prior to the public announcement of this credit CNN.
Also the SEC investigates how the photo company communicated the loan. This information is believed to have leaked the day before its official announcement, as Kodak stock was up 25 percent.