3 Equifax Execs Sold $1.8M in Stock Days After Hack Discovered

Company says they didn't know about intrusion
By Rob Quinn,  Newser Staff
Posted Sep 8, 2017 1:22 AM CDT
Updated Sep 8, 2017 3:00 AM CDT
3 Execs Sold Stock After Equifax Discovered Massive Data Breach
Equifax Inc., offices in Atlanta.   (AP Photo/Mike Stewart)

Days after Equifax discovered a massive security breach affecting 143 million Americans, three senior executives sold off almost $2 million in shares. The company says it discovered the intrusion, which was only made public Thursday, on July 29. Records show that three days later, Chief Financial Officer John Gamble; Joseph Loughran, chief of US information solutions; and Rodolfo Ploder, president of workforce solutions, sold company shares worth around $1.8 million, Bloomberg reports. The credit-reporting company says the men "sold a small percentage of their shares" and "had no knowledge that an intrusion had occurred at the time."

The SEC declined to comment on the share sales, which are not listed as having been part of scheduled trading plans, reports CNBC. In after-hours trading after the breach was disclosed, Equifax shares dropped 13%. The company says that between May and July of this year, hackers obtained information including birth dates, Social Security numbers, names, addresses, and driver's license numbers. They also may have obtained the credit card numbers of 209,000 people. Equifax has apologized, admitting that the hack affected information that the company was supposed to protect. It says it is in the process of alerting affected customers. (Read more Equifax stories.)

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