kodak

The Attorney General's Office filed a petition with the New York State Supreme Court to force Continenza to publicly testify about his purchase of more than 46,000 shares of Kodak stock last summer.

Reuters reports the pending lawsuit focuses on stock purchases that preceded a proposed deal during the Trump administration to finance a pharmaceutical venture during the COVID-19 pandemic.

The proposed $765 million loan to Kodak was announced last July as part of the company’s plans to make ingredients used in generic pharmaceuticals.

The decision to entrust $765 million of taxpayer money to the former maker of photographic equipment raises several questions about the Trump administration's due diligence of Kodak.

"Recent allegations of wrongdoing raise serious concerns. We will not proceed any further unless these allegations are cleared."

U.S. Senator Elizabeth Warren, (D-Massachusetts) said she sent a letter to the SEC Chairman asking that agency to look at the potential for insider trading.

Eastman Kodak will help produce components needed to manufacture generic pharmaceuticals with the help of a substantial federal loan.

Kodak has shipped 40,000 gallons of the isopropyl alcohol over the last week, shipping it in tanker loads from its Eastman Business Park facility.

"It's something we designed and built in Rochester, and this one didn't fly in space, but 48 others exactly like it did."