Three Equifax Managers Sold Stock Before Cyber Hack Was Revealed

[dixiegrrrrl]

T

hree 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 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 pre-scheduled trading plans.

Equifax said in the statement that intruders accessed names, Social Security numbers, birth dates, addresses and driver’s-license numbers, as well as credit-card numbers for about 209,000 consumers. The incident ranks among the largest cybersecurity breaches in history.

https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social
essentially of the story is in the excerpt.

the level of acceptable graft and thieving in biz today is incredible.

[kimbutgar]

1. In twitlers SEC, they will get a slap on the and continue their merry way being of being thieves

[ThoughtCriminal]

19. Prediction: Not even a slap, a tap or even

a tsk... tsk...

Shame on you peasants for thinking that the sale of stock had ANYTHING to do with the impending disclosure. People this rich are divine creatures whose morals are beyond question by us lower life forms.

[kimbutgar]

26. I hear you

[NightWatcher]

2. Get the Martha Stewart wing of the federal pen ready for some new guests

I think that qualifies as insider trading if I'm not mistaken.

[benld74]

3. B@stards

[Chasstev365]

4. Too powerful to be punished yet again!

[marybourg]

5. Incredibly brazen!

Lock them up!

[democratisphere]

6. Corporate corruption at its' finest.

What an irresponsible, corrupt corporation.

[SergeStorms]

21. And these are the people....

who hold many Americans' future in their hands. People's ability to get a mortgage, buy a new car, or buy anything with credit. Now, who holds these bastards future in their hands?

No one, of course. They'll not receive so much as a slap on the wrist for this treachery. It's the GOP way of life! Accountability and punishment are for the little people.

[democratisphere]

22. Their cyber security department should be fired.

[SergeStorms]

23. If they haven't been already.

But like I said before, accountability and punishment are for the little people.....you know, like the 143 million people who could get royally screwed because of their lax security.

[democratisphere]

24. Wells Fargo and Equifax should not be allowed to conduct business.

[SergeStorms]

25. I'm certainly....

not going to argue about that!

[ellie]

7. Rules are for the little people!

And Martha Stewart, of course.

[icymist]

8. Well now, that explains why it took so long for Equifax to tell the public about the hack...

They were busy stealing money!

[Wellstone ruled]

9. So the credit serach software

has been compromised. So all those folks who have applied for Mortgages and Car loans as well as Second's,better be on the phone ASAP.

This Company will stall and Stonewall .

[woodsprite]

10. Inside job? They should have some of the strongest cyber protection available. n/t

[keithbvadu2]

11. Very fortuitous you might say.

[nini]

12. Jesus... back to Life Lock I guess

Not that it's foolproof either.

I hate everything these days

[Initech]

13. I wouldn't trust Life Lock with the combination to my luggage.

And I agree, I hate everything too. Especially these predatory companies like Equifax.

[nini]

14. do you know of any other companies that do what life lock does

or similar?


I just feel so helpless with all this mess. I wanna go back to cash only like my grandparents!

[Initech]

16. They're all pretty horrible.

It sucks that you have to pick one, I'd choose none of the above if I could.

[nini]

17. No kidding

I need to find a deserted island and hide out .

[Initech]

18. You're probably better off stuffing your money under your mattress at this point!

[zentrum]

15. Will get worse

.....under Trump. As we focus on Russia his cabinet is rapidly undoing regulations in all kinds of businesses and the media is not reporting.

[Duppers]

20. This level of acceptable graft

Is only the tip of the iceberg.

[Daxter]

27. Krebs on security discussed this in a recent post

He gave this advice:

I have long urged consumers to assume that all of the personal information jeopardized in this breach is already compromised and for sale many times over in the cybercrime underground (because it demonstrably is for a significant portion of Americans). One step in acting on that assumption is placing a credit freeze on one’s file with the three major credit bureaus and with Innovis — a fourth bureau which runs credit checks for many businesses but is not as widely known as the big three.

Link to article: https://krebsonsecurity.com/2017/09/breach-at-equifax-may-impact-143m-americans/

Brian Krebs does some of the best investigative journalism when it comes to revealing malware authors, security breaches, and data leaks.