Stories
Slash Boxes
Comments

SoylentNews is people

Outrage Builds after Equifax Executives Banked $2 Million Following Data Breach

posted by janrinok on Monday September 11 2017, @07:27PM   Printer-friendly
from the malice-or-coincidence? dept.

MrPlow writes:

Submitted via IRC for SoyCow5389

The sale of nearly $2 million in corporate stock by high-level Equifax executives shortly after the company learned of a major data breach has sparked public outrage that could turn into another hurdle for the credit rating agency.

The sales all occurred before the company publicly reported the breach, a disclosure that quickly sent its stock tumbling. The timing of the sales could attract federal scrutiny, legal experts say, though proving insider trading would be difficult. A company spokeswoman said the executives did not know about the breach when they sold their shares.

“It certainly would be exactly the type of trading pattern before a high-profile event that the [Securities and Exchange Commission] would investigate,” said Brandon L. Garrett, a professor at the University of Virginia School of Law. “Even if they do not bring charges it is the type of conduct that a company should not tolerate in its executives. It sends a terrible message to the public and to customers.”

The SEC declined to comment on whether it was investigating the matter.

Source: https://www.washingtonpost.com/news/business/wp/2017/09/08/outrage-builds-after-equifax-executives-banked-2-million-in-stock-sales-following-data-breach/

Original Submission

 
This discussion has been archived. No new comments can be posted.
Outrage Builds after Equifax Executives Banked $2 Million Following Data Breach | Log In/Create an Account | Top | 36 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2, Funny) by Anonymous Coward on Monday September 11 2017, @09:17PM (4 children)

    by Anonymous Coward on Monday September 11 2017, @09:17PM (#566399)

    You do realize he pretty much ran on the 'law and order' platform? right?

    Starting Score:    0  points
    Moderation   +2  
       Funny=2, Total=2
    Extra 'Funny' Modifier   0  
    Total Score:   2  

  • (Score: 2, Insightful) by fido_dogstoyevsky on Monday September 11 2017, @10:09PM

    by fido_dogstoyevsky (131) <{axehandle} {at} {gmail.com}> on Monday September 11 2017, @10:09PM (#566433)

    You do realize he [Neville Chamberlain*] pretty much ran on the 'peace in our time' platform? right?

    Slight rewording to compare promises, not making any comment about whether either believed what they were saying.

     

    *Technically, this does not fall under Godwin's Law.

    --
    It's NOT a conspiracy... it's a plot.

  • (Score: 4, Informative) by Anonymous Coward on Monday September 11 2017, @10:15PM

    by Anonymous Coward on Monday September 11 2017, @10:15PM (#566438)

    > You do realize he pretty much ran on the 'law and order' platform? right?

    You do realize he pretty much does the exact opposite of his platform? right?

  • (Score: 0) by Anonymous Coward on Tuesday September 12 2017, @12:45AM

    by Anonymous Coward on Tuesday September 12 2017, @12:45AM (#566486)

    You do realize he pretty much ran on the 'law and order' platform? right?

    HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!

  • (Score: 2) by FatPhil on Tuesday September 12 2017, @09:17PM

    by FatPhil (863) <{pc-soylent} {at} {asdf.fi}> on Tuesday September 12 2017, @09:17PM (#566961) Homepage
    I thought it was the "draining the swamp" platform?
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves