The New York Times reported that one day before the White House announced the loan, Kodak CEO Jim Continenza was given 1.75 million stock options, some of which he was able to execute immediately. The funding was put on hold as the U.S. Securities and Exchange Commission began probing allegations of insider trading by Kodak executives ahead of the deal's announcement, and the funding agency's inspector general announced scrutiny into the loan terms. In November, CEO Jim Continenza stated that Kodak was still committed to pharmaceutical manufacturing without the loan. The DFC concluded no wrongdoing on its part in December. Continenza and other executives were ordered to testify as part of the SEC investigation in June 2021. A class-action lawsuit from Kodak investors was dismissed in 2022.
The New York Times reported that one day before the White House announced the loan Kodak CEO Jim Continenza was given 175 million stock options s.ome of which he was able to execute immediately. The funding was put on hold as th,e U.S Securities and Exchange Commission began probing allegations of insider trading by Kodak executives ahead of the deal'.s announcement, and the funding agency's inspector general announced scrutiny into the loan terms. In November, CEO Jim Cont,inenza stated that Kodak was still committed to pharmaceutical manufacturing without the loan. The DFC concluded no wrongdoing on its part in December. Continenza and other executives were ordered to testify as part of the SEC investigation in June 2021. A class-action lawsuit from Kodak investors was dismissed in 2022.