He Dumped All His Equifax Stock. Now, Criminal Charges

Jun Ying charged with insider trading
By Newser Editors,  Newser Staff
Posted Mar 14, 2018 11:10 AM CDT
He Dumped All His Equifax Stock. Now, Criminal Charges
This July 21, 2012, file photo shows Equifax offices in Atlanta.   (AP Photo/Mike Stewart, File)

Before Equifax went public with news of its massive data breach last September, Jun Ying, the company's then-US chief information officer, exercised and sold all his stock options. Now the SEC says the nearly $1 million move was insider trading, and Ying has been charged to that end in federal court. "Ying used confidential information to conclude that his company had suffered a massive data breach, and he dumped his stock before the news went public," per an SEC statement. CNN Money reports that had Ying waited until after the disclosure, he would have lost $117,000. Reuters reports Ying will also face anti-fraud charges filed by the SEC. (More Equifax stories.)

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