By now you know about the Equifax security breach and how serious it is. What a lot of people may not know is that Equifax suits knew how serious the breach was … and three are accused of selling major shares in the company once the security breach was exposed.
Bloomberg reported that the three Equifax executives in question sold shares worth almost $1.8 million in the days after the Equifax security breach was discovered; a rep for Equifax denied that the executives were informed of the breach at the time the shares were sold:
“The credit-reporting service said earlier in a statement that it discovered the intrusion on July 29. Regulatory filings show that on Aug. 1, 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.’”
Just thought you guys would like to know! Keep in mind that Equifax is supposedly keeping you safe from other people breaching your security and messing with your credit.