Updated: August 04, 2020 11:05 PM
Created: August 04, 2020 10:34 PM
ROCHESTER, N.Y. (WHEC) — President Donald Trump weighed in on a brewing controversy surrounding Kodak's potentially lucrative deal with the federal government to make generic drug ingredients.
Kodak's stock price surged last week before the company announced its plans to work with the Trump administration in exchange for a $765 million loan.
According to the Wall Street Journal, the Securities and Exchange Commission is in the early stages of investigating whether insider trading laws were broken.
At Tuesday's coronavirus press briefing, President Trump was asked about the Kodak deal.
"I wasn't involved in it,” Trump said. “It's a big deal. It's a way of bringing back a great area too, in addition to pharmaceuticals. Kodak has been a great name, but obviously pretty much in a different business. And so we'll see what that's all about."
The president went on to say that they will find out if there's a problem.
Copyright 2020 - WHEC-TV, LLC A Hubbard Broadcasting Company