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Equifax, which promised that exec stock sale wasn’t sketchy, now thinks it might be sketchy

October 2nd, 2017 at 2:02 PM
equifax stock sale

Hey, remember Equifax? You should, since they leaked the personal information of half of the United States just a few weeks ago. Well, now the company’s board of directors is investigating the sale of company stock by some of its top executives which occurred just before the devastating hack was made public.

You’ll remember the drama surrounding the sale of stock by the executives because Equifax now famously came out and promised that the individuals who dumped the stock at a high price point was totally on the level. At the time, the company claimed that the executives had no idea that the hack had taken place, and therefore the sale was totally fine. Now, it seems the company isn’t entirely confident in its initial promise.

The executives in question — CFO John Gamble, US IT head Joseph Loughran, and Workforce Solutions president Rodolfo Ploder — dumped roughly $1.8 million worth of stock in the days following the discovery of the security breach. It’s not a good look, and it’s also pretty hard to believe that these guys had no idea about the hack, considering their high posts in the company hierarchy and the fact that one of them, Loughran, was the head of an information systems department.

The company’s ongoing internal investigation was made public when it was included in a from its lawyers to government officials. It’s unclear exactly what prompted the investigation to occur after the company had already publicly stated that the executives were in the clear, but the disclosure of earlier hacks seems to have muddied the timeline a bit, and it seems Equifax wants to be completely certain nothing sketchy took place.

Mike Wehner has reported on technology and video games for the past decade, covering breaking news and trends in VR, wearables, smartphones, and future tech.

Most recently, Mike served as Tech Editor at The Daily Dot, and has been featured in USA Today, Time.com, and countless other web and print outlets. His love of reporting is second only to his gaming addiction.




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