Kodak stock price soars 83% after committee finds no violations of law - Business Insider

soared as much as 83% on Wednesday after it was determined by a special committee that executive trading and option grants in shares of Kodak just prior to a $765 million government loan announcement in July didn't violate insider trading laws.from the likes of Senator Elizabeth Warren and others about its handling of announcing that it received a US government loan to be used for the production of pharmaceuticals, one day after it granted stock to its CEO.

The special committee said Kodak executives did not violate insider trading laws because throughout the loan process, Kodak general counsel told executives that the government loan application process was "at a highly uncertain stage."Legendary options trader Tony Saliba famously put together 70 straight months of profits greater than $100,000. Here's an inside look at the strategy that propelled him to millionaire status before age 25.

Additionally, the firm found that Kodak's failed to place an embargo on a media release about its signing of the government loan due to a misunderstanding, which led to two local Rochester news outlets to tweet about Kodak's upcoming announcement one day before it was officially announced. "While this early release of information was not in accordance with best practices, it did not violate Reg FD," the special committee found. Kodak said it would take actions recommended in the report to strengthen its practices, policies, and procedures.

"Kodak is committed to the highest levels of governance and transparency, and it is clear from the review's findings that we need to take action to strengthen our practices, policies, and procedures," Kodak said.

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