Three Equifax Managers Sold Stock Before Cyber Hack Revealed
Source: Bloomberg
Three Equifax Inc. senior executives sold shares worth almost $1.8 million in the days after the company discovered a security breach that may have compromised information on about 143 million U.S. consumers.
The trio had not yet been informed of the incident, the company said.
The credit-reporting service said late Thursday in a statement that it discovered the intrusion on July 29. Regulatory filings show that three days later, Chief Financial Officer John Gamble sold shares worth $946,374 and Joseph Loughran, president of U.S. information solutions, exercised options to dispose of stock worth $584,099. Rodolfo Ploder, president of workforce solutions, sold $250,458 of stock on Aug. 2. None of the filings lists the transactions as being part of 10b5-1 scheduled trading plans.
The three sold a small percentage of their Equifax shares, Ines Gutzmer, a spokeswoman for the Atlanta-based company, said in an emailed statement. They had no knowledge that an intrusion had occurred at the time.
Read more: https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack
Even in the Trump Administration, I suspect the SEC will be knocking on their door for doing something so blatantly stupid.
Stuart G
(38,458 posts)ck4829
(35,096 posts)wishstar
(5,273 posts)Early this morning, I went into their website to check my status and was notified my info was hacked, but that I must wait until Sep 13 to go back into their website and request them to lock my credit. They refuse to do anything before Sep 13. Other people may be given different staggered dates.
IronLionZion
(45,667 posts)FakeNoose
(32,917 posts)Martha Stewart, to name one. It's called insider trading.
Aren't there any laws left in this country?