The Conservative Cave
Current Events => General Discussion => Topic started by: HAPPY2BME on September 08, 2017, 07:26:01 AM
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September 7, 2017
Trio didn’t know about the intrusion when selling, firm says
Shares tumbled in late trading after company disclosed breach
Three Equifax Managers Sold Stock Before Cyber Hack Revealed
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.”
Equifax said in its 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.
Equifax shares tumbled 13 percent to $124 in extended trading at 7:49 p.m. in New York.
https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack
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According to my credit union, I am impacted by this bullshit.
Oh, and if you think I believe what those three executives said about "not being aware" I have some swampland in Arizona to sell you.
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According to my credit union, I am impacted by this bullshit.
Oh, and if you think I believe what those three executives said about "not being aware" I have some swampland in Arizona to sell you.
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The ironic thing here is that the very same company (Equifax) that allowed your identity to leak onto the internet is THE SAME COMPANY that will now be hired to protect it.
Not joking.