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NBC News: Kodak CEO, investors made hundreds of millions off pharmaceuticals announcement

WHECTV
Updated: August 05, 2020 11:19 PM
Created: August 05, 2020 09:57 PM

ROCHESTER, N.Y. (NBC/WHEC) — On the day it announced House Democrats and the Securities and Exchange Commission are both investigating Kodak, NBC News is revealing new information about investors.

According to filings with the SEC, Kodak's CEO and a small set of insiders made hundreds of millions of dollars.

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NBC News says in December 2019, few billionaire investors bought millions of low-cost shares, buying more than 27% of the company.

The day after the deal was announced, the share price rose as high as 60%, and those investors sold or donated shares, putting them under the threshold of ownership at which they must report further transactions to the SEC.


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