Eastman Kodak Co. said five former executives were able to collect millions of dollars by selling stock options they didn’t own, an admission that is set to add to the scrutiny the company faces over the circumstances surrounding a halted U.S. loan.
Kodak Finance Chief David Bullwinkle said on an earnings call Tuesday that the company had discovered deficiencies in its controls that had failed to prevent the “unauthorized issuance” of the company’s stock.
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This post first appeared on wsj.com
