2 Burst results for "Dave Codex"

"dave codex" Discussed on WSJ What's News

WSJ What's News

05:39 min | 2 months ago

"dave codex" Discussed on WSJ What's News

"Last week, Kodak announced, it had secured a seven hundred, sixty five, million dollar loan from the Federal Government under the Defense Production Act to shift gears for making photo supplies to drug ingredients. Now, we've learned that the Securities and Exchange Commission is investigating the deal joining me now with more details is Wall Street Journal reporter Dave, Michaels? So Dave Codex shares surged after news about this loan broke, and that got the attention of the Securities and Exchange Commission. What can you tell us about what they're now looking into? Well, we understand that the SEC has opened up. An investigation they're looking at trading in the shares just before the loan announcement was officially made, and then also how the in the news about the loan was communicated to the wider market. Why is that potentially a problem that Kodak had shared news of this deal with some media outlets before making this public wouldn't be a violation of criminal law, but but it could be a violation of the regulations that apply to public companies, which they can be straightforward. They can also beat her technical, but suffice it to say that public companies have to have a lot of rigor around how they communicate. Information, that is information that is going to influence investors decisions about whether to buy a seller, hold on a shares and if the company released information. About the control loan before the initial announcement in released in a way that was. Haphazard or not well thought through and then that information. Leaked down in some form or fashion to the wide broader market people traded on it than that could be a problem for Kodak as a public company just in terms of their responsibilities in terms of how they're supposed to control the flow of material information. So what are some of the questions still surrounding this deal that our team is looking into right now including this question about the disclosure in the communication? Of the loan, we're still looking into the loan itself in Kodak is saying that. Alone details are not fully finalized and yet the announcement was made last week that it was going to be getting seven, hundred, sixty, five, million dollar loan. So announcing net to the broader market, ensure holders developed certain expectations about how that's going to change. Kodak's business. But the loan is in guaranteed is not finalized. Query whether whether it was appropriate to make make that announcement at the time. We're also looking into continue to look into some of the equity options grants that were made to executives directors in the day before the day, just before the official announcement was made. So Dave, what are the potential outcomes from an SEC investigation of this sort? What can we see come out of this and when? You know we understand this is Very early days of this, I mean after all the announcement was just made last week, so it could take. Months to learn anything from either the company or potentially in the SEC. If actually brought any sort of official claims against the company. So we won't. We won't know anytime soon, and also it's also not clear that this would result in in a in former allegations of wrongdoing SEC opens up investigations all the time they ask questions, they do the dig into something, they take testimony and they might decide you know, hey, this, this was a little weird wasn't perfect way went down, but there's not a clear regulatory violation. Yourself is just something that I think people who are interested in Kodak Interested in in this story would just have to stay tuned. Wall Street Journal reporter Dave Michaels Dave. Thank you so much for joining me. Thank you. Mood and finally sales of backyard above ground pools have been skyrocketing this summer pull vendors say they're stunned by the surge in demand. Here's our Patrick Thomas a lot of people are there some plans have been canceled and justic basic community pool? The neighborhood pool that everyone would go to is not open this summer in some places, men, some homeowners, associations told us. They relaxed their rules about above ground pools, kind of sympathy. I mean, if you've got three younger children at home and in one example, the stories if you can't go to Disneyworld this summer, just getting a quick above ground pool for some entertainment with the kids is a great way to keep him occupied. So. The kids may be occupied, but things aren't going swimmingly with some of their neighbors, just the sound of a stereo system or the annoyance of a we'll going off throughout the night There's all these different things that neighbors say make above ground pools just a little bit more annoying on a time when people are a little bit more be shorter fuse or more on edge during the pandemic, kinder- less likely to tolerate their neighbors new hobby? And that's what's news for this Tuesday afternoon. We'll be back tomorrow morning if you like our show, please rate and review US wherever you get your podcasts, I'm Marie for totally for the wall. Street. Journal. Thanks.

Kodak Securities and Exchange Commis Dave Michaels Wall Street Journal Dave Dave Codex reporter official Federal Government US SEC Patrick Thomas Marie
SEC Investigates Kodak's Federal Loan, Stock Surge

WSJ What's News

04:11 min | 2 months ago

SEC Investigates Kodak's Federal Loan, Stock Surge

"Last week, Kodak announced, it had secured a seven hundred, sixty five, million dollar loan from the Federal Government under the Defense Production Act to shift gears for making photo supplies to drug ingredients. Now, we've learned that the Securities and Exchange Commission is investigating the deal joining me now with more details is Wall Street Journal reporter Dave, Michaels? So Dave Codex shares surged after news about this loan broke, and that got the attention of the Securities and Exchange Commission. What can you tell us about what they're now looking into? Well, we understand that the SEC has opened up. An investigation they're looking at trading in the shares just before the loan announcement was officially made, and then also how the in the news about the loan was communicated to the wider market. Why is that potentially a problem that Kodak had shared news of this deal with some media outlets before making this public wouldn't be a violation of criminal law, but but it could be a violation of the regulations that apply to public companies, which they can be straightforward. They can also beat her technical, but suffice it to say that public companies have to have a lot of rigor around how they communicate. Information, that is information that is going to influence investors decisions about whether to buy a seller, hold on a shares and if the company released information. About the control loan before the initial announcement in released in a way that was. Haphazard or not well thought through and then that information. Leaked down in some form or fashion to the wide broader market people traded on it than that could be a problem for Kodak as a public company just in terms of their responsibilities in terms of how they're supposed to control the flow of material information. So what are some of the questions still surrounding this deal that our team is looking into right now including this question about the disclosure in the communication? Of the loan, we're still looking into the loan itself in Kodak is saying that. Alone details are not fully finalized and yet the announcement was made last week that it was going to be getting seven, hundred, sixty, five, million dollar loan. So announcing net to the broader market, ensure holders developed certain expectations about how that's going to change. Kodak's business. But the loan is in guaranteed is not finalized. Query whether whether it was appropriate to make make that announcement at the time. We're also looking into continue to look into some of the equity options grants that were made to executives directors in the day before the day, just before the official announcement was made. So Dave, what are the potential outcomes from an SEC investigation of this sort? What can we see come out of this and when? You know we understand this is Very early days of this, I mean after all the announcement was just made last week, so it could take. Months to learn anything from either the company or potentially in the SEC. If actually brought any sort of official claims against the company. So we won't. We won't know anytime soon, and also it's also not clear that this would result in in a in former allegations of wrongdoing SEC opens up investigations all the time they ask questions, they do the dig into something, they take testimony and they might decide you know, hey, this, this was a little weird wasn't perfect way went down, but there's not a clear regulatory violation. Yourself is just something that I think people who are interested in Kodak Interested in in this story would just have to stay tuned.

Kodak Securities And Exchange Commis Dave Codex Michaels Wall Street Journal Federal Government SEC Official Reporter