How three Equifax execs sold $1.8million of stock days after massive data breach – which wasn’t revealed to the public for more than SIX WEEKS
Equifax says the three company executives who sold stock days after company discovered major security breach were not aware of the hack at the time
On Thursday, company disclosed a cyberattack that ran from May to July which exposed Social Security numbers and sensitive data of 143 million Americans
The hack itself was discovered by the company on July 29
Days later, Chief Financial Officer John Gamble and two other executives, Rodolfo Ploder and Joseph Loughran, sold a combined $1.8million in stock
Insider trading is a federal offense punishable by a maximum prison sentence of 20 years and a $5million fine, according to the SEC
By Ariel Zilber and Daniel Roth
DailyMail.com
8 September 2017
Equifax says that three company executives who sold stock just days after the company discovered a major security breach were not aware of the hack at the time.
On Thursday, the company disclosed a cyberattack that ran from mid-May to July. The attack exposed the Social Security numbers and other sensitive information of about 143 million Americans.
Equifax said it detected the hack on July 29.
On August 1 and August 2, Equifax Chief Financial Officer John Gamble and two other executives, Rodolfo Ploder and Joseph Loughran, sold a combined $1.8million in stock.
In a statement, the company said the executives ‘had no knowledge that an intrusion had occurred at the time they sold their shares.’
Bloomberg News first reported the divestitures.
The sales effectively insulated the executives from a downturn in Equifax’s stock Thursday.
The stock dropped 13 percent in extended trading after the announcement of the breach.
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