Two charged with insider trading of Kodak stock
ROCHESTER, N.Y. A former pharmaceutical executive and his cousin are being charged with insider trading in connection to an announcement made in 2020 about potential government loans for Kodak to produce pharmaceutical components.
The U.S. Justice Department accuses Andrew Stiles of sharing non-public information about those possible loans with Gray Stiles so they could both trade on the information. Andrew Stiles was an executive at the pharma company working with Kodak on the production of those pharmaceutical chemicals.
Combined the two men saw profits of more than $1.2 million. They’re both charged with three counts each of securities fraud.