The House of Representatives will review the Kodak Pharmaceutical deal, amid allegations of insider trading.

This comes as the SEC also committed to an investigation of the deal. 

Three Democratic committee chairs, including Caroyln Maloney of New York, Jim Clyburn, and Maxine Waters, requested information into the federal loan that was to launch Kodak into the generic drug-making market.

They wrote Kodak Executive Chair Jim Continenza and Adam Boehler, the CEO of the International Development Finance Corporation, and asked for documents and other details from the deal.

Boehler's agency loaned Kodak $765 million to start a drug ingredient-making business, as part of the Trump administration's response to the pandemic. 

Kodak stock skyrocketed on the news, including stock options approved for Continenza, the day before the announcement.

Continenza had applied for the options, two months before the deal closed. 

Representatives leading this review say Kodak's lack of experience in pharmaceuticals, and the windfall Continenza and other company executives gained led to their examination of the DFC loan.

In their letters to Continenza and Boehler, the three chairs wrote: 

“Companies and individuals that receive federal funds in response to the coronavirus crisis must follow the law and not engage in abusive practices.” 

The SEC will also look into the timing of the stock transaction and Kodak's leaking of information prior to the formal announcement. 

Senator Elizabeth Warren called for the SEC inquiry. 

The new Kodak Pharmaceutical would bring 300 jobs to Rochester, another 60 to St. Paul, Minnesota, and bring back generic pharmaceutical manufacturing to America.