Kodak Soars as Probe Indicates No Wrongdoing in Covid Loan

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Shares of Eastman Kodak  (KODK) – Get Report surged more than 75% in trading on Monday after federal regulators reportedly found no wrongdoing in the process which created a loan to the company to produce ingredients made in drugs.

Citing a copy of the assessment that it said it reviewed, The Wall Street Journal reported that the inspector general of the U.S. International Development Finance Corp., which brokered the $765 million loan deal, said he found no evidence that employees of the agency had any conflicts of interest in the plans, and found no misconduct on the part of the agency’s officials.

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