Shares of Kodak fell about 40% after the U.S. government blocked a $765 million loan to the company that was going to make drug ingredients for use in possible COVID-19 vaccines
) fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of “alleged wrongdoing” by executives.
But alarms were raised after senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives around the time it learned it could receive the government loan. “Recent allegations of wrongdoing raise serious concerns,” U.S. International Development Finance Corp said late on Friday in a tweet.
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