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Re: Kodak: New York AG Is Getting Ready to Sue Us for Alleged Insider Trading Ahead of Trump Deal

By: Cactus Flower in ALEA | Recommend this post (0)
Tue, 18 May 21 2:21 PM | 14 view(s)
Boardmark this board | The Trust Matrix 		Msg. 42156 of 54427
(This msg. is a reply to 42153 by clo2)
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Maybe Kodak had expertise in chemistry. I don't know. The photography business isn't coming back. So moving a valuable brand name in a new direction isn't corrupt on the company's part.

I'd be looking at the insiders in the government if I was the NY AG.

As described, I doubt the charges against the CEO are going to stick. They'd have to show that this is somehow abnormal or greedy behaviour and he had no other motive. CEOs buy stock to demonstrate their commitment all the time. Every once in a while, good news is going to happen and make the stock go up. That can easily be coincidence. It isn't insider trading simply because two things happen.

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The above is a reply to the following message:
Kodak: New York AG Is Getting Ready to Sue Us for Alleged Insider Trading Ahead of Trump Deal
By: clo2 in ALEA
Tue, 18 May 21 1:56 PM 		Msg. 42153 of 54427

I'd like to know why Trump picked Kodak for this, it made no sense.

Kodak: New York AG Is Getting Ready to Sue Us for Alleged Insider Trading Ahead of Trump Deal

Eastman Kodak is about to get hit with an insider trading lawsuit by the New York Attorney General’s office, according to a Reuters report. The suit will reportedly center on a series of stock purchases made by Kodak’s Executive Chairman Jim Continenza, who bought nearly 50,000 shares in the company in June 2020, just weeks before the Trump administration announced a deal that would give the camera giant $765 million under the Defense Production Act to support the production of pharmaceutical materials critical to fighting the pandemic. The announcement caused Kodak’s stock shares to temporarily skyrocket in value. Continenza’s position at the company may have given him prior knowledge of the agreement, investigators say. A Kodak rep denied allegations that Continenza knew of the Trump admin deal when he made his stock purchases and claimed that Continenza “did not engage in insider trading.”

Read it at Reuters
http://www.thedailybeast.com/eastman-kodak-new-york-ag-is-getting-ready-to-sue-us-for-alleged-insider-trading?via=newsletter&source=CSAMedition

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