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Join the Securities Litigation and Enforcement Group on LinkedInFormer Equifax Manager Charged With Insider Trading
This past week, the Securities and Exchange Commission charged a former Equifax manager with insider trading in advance of the company’s September 2017 announcement of a massive data breach that exposed Social Security numbers and other personal information of approximately 148 million U.S. customers. This is the second case the SEC has filed arising from […]
Former Equifax Executive Charged With Insider Trading — SEC Press Release
The Securities and Exchange Commission today charged a former chief information officer of a U.S. business unit of Equifax with insider trading in advance of the company’s September 2017 announcement about a massive data breach that exposed the social security numbers and other personal information of about 148 million U.S. customers. via Former Equifax Executive […]
Equifax Hack: Special committee says no insider trading – Business Insider
The special committee’s report concluded that “none of the four executives had knowledge of the incident when their trades were made, that pre-clearance for the four trades was appropriately obtained, that each of the four trades at issue comported with Company policy, and that none of the four executives engaged in insider trading.” via Equifax Hack: […]
Takeaways, Reminders & Caveats From the Equifax and SEC Data Breaches | LinkedIn
“The impact of these two recent data breaches will be unprecedented.”
Equifax Stock Sales Are the Focus of U.S. Criminal Probe – Bloomberg
The U.S. Justice Department has opened a criminal investigation into whether top officials at Equifax Inc. violated insider trading laws when they sold stock before the company disclosed that it had been hacked, according to people familiar with the investigation. Prosecutors are looking at the stock sales by Equifax Chief Financial Officer John Gamble; President […]
COLUMN-Will Equifax securities class action break jinx for shareholders?: Frankel
But for the most part, as Kevin LaCroix explained Wednesday at the D&O Diary blog, shareholder lawyers haven’t even bothered bringing securities class actions against big corporations that left confidential data vulnerable to hackers because company shares didn’t drop after data breach disclosures. There’s no point suing unless you can show investors lost money. Equifax […]
Equifax Data Breach Litigation Now Includes Securities Suit | The D&O Diary
In the wake of credit monitoring and reporting firm Equifax’s announcement last week that it had sustained a data breach involving 143 million U.S. customers, a wave of consumer class action lawsuits has followed. In addition, the litigation wave now also includes at least one securities class action lawsuit; more securities suits are likely to […]
Equifax execs should face jail for alleged insider trading, U.S. senator says – Atlanta Business Chronicle
Sen. Heidi Heitkamp, a Democrat who sits on the Senate Banking Committee, said it was “disturbing” that it appeared executives sold nearly $2 million worth of company stock after the company learned of the breach but before it was made public, the New York Times reported. “If that happened, somebody needs to go to jail,” […]
Equifax executives sold stock after data breach, before informing public – MarketWatch
After Equifax Inc. discovered a massive data breach that may have endangered the personal information of up to two-thirds of Americans, but before the company divulged the information, three executives sold their Equifax stock, according to Securities and Exchange Commission filings. Equifax discovered the data breach July 29. On Aug. 1 and Aug 2., ahead […]