Re:Equifax Stock Sales Are the Focus of U.S. Criminal Probe
by SilasX on Monday September 18, 2017 @01:25PM
(#15277754)
Right. I also seem to recall the internet hive mind researching this when the story broke, and those same executives had been selling for months on a particular schedule and these trades were right in line with that schedule, and they still held significant stock in the company. Can't seem to find ATM though...
Re:Equifax Stock Sales Are the Focus of U.S. Criminal Probe
by ams6110 on Monday September 18, 2017 @01:20PM
(#15277714)
In many companies, if they don't have a CTO, the IT division reports to the CFO. Is that the case here? If so, hard to believe he didn't know about the breach very soon after discovery.
https://investor.equifax.com/news-and-events/news/2017/06-28...
with an investor conference call on the morning of Thursday, July 27.
Any public company I've worked at has had a trading window that opened a day or two after an earnings report came out, with most people who want to trade trading early in that window. Admittedly I've never been an executive and I don't know how the rules differ for execs, but the dates when these trades took place are when I would expect Equifax employees to execute options and sell stock.
It also strikes me as possible that information about a security breach discovered on the weekend might not make its way up the company hierarchy for a few days, and that execs might not have been aware of it when they traded.
I do think this should be investigated by the SEC, but I'm a little disappointed at the rush-to-judgement in this thread.