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A comment on Equifax takes down web page after reports of new hack. Parent comment

Re:Equifax takes down web page after reports of new hack by ModernMech on Thursday October 12, 2017 @04:27PM (#15461038)
If that's the case, it seems like the executives at Equifax who were dumping stock after they learned of the breach (but before it was reported) were jumping the gun. They should have just held on to it!

"Three senior executives including the company’s chief financial officer sold $1.8 million in shares three days after the company learned on July 29 hackers had breached personal data for up to 143 million Americans."

http://fortune.com/2017/09/29/equifax-board-executive-stock-...

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Re:Equifax takes down web page after reports of new hack by astura on Thursday October 12, 2017 @04:30PM (#15461065)
That's short sighted - how you make money is sell when high, buy when low.

So you sell right before the dip and then buy again at the bottom of the dip. They knew there was going to be a dip.

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Re:Equifax takes down web page after reports of new hack by leggomylibro on Thursday October 12, 2017 @06:00PM (#15461647)
Unfortunately, the SEC might notice if those executives sold a bunch of shares on insider info, quit, and then bought more shares after the crash.

I guess they probably wouldn't do anything, but they might notice.

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Re:Equifax takes down web page after reports of new hack by astura on Thursday October 12, 2017 @06:25PM (#15461793)
They absolutely should notice and investigate (and I think they are) even the initial sale, I don't see how that's not insider trading.
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Re:Equifax takes down web page after reports of new hack by leggomylibro on Thursday October 12, 2017 @06:28PM (#15461815)
It pretty clearly is, I just mean that in reality that sort of thing isn't going to be prosecuted or pursued.
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Re:Equifax takes down web page after reports of new hack by poooogles on Thursday October 12, 2017 @07:18PM (#15462137)
That is incorrect. The SEC regularly pursue people for insider trading [1]. It's one of the things that's normally pretty clear cut and hard for politicians to lean on.

1. https://www.sec.gov/news/pressrelease/2016-212.html

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Re:Equifax takes down web page after reports of new hack by leggomylibro on Thursday October 12, 2017 @08:44PM (#15462553)
I guess I'm just getting jaded about the scale; when you reach a certain dollar amount, there don't seem to be consequences at all. I'm sure I would get busted for insider trading if I tried it, but my company's CEO damned sure wouldn't.

Not that it'd be easy since you have to schedule big sales like that with the feds in the first place, but I mean...come on. The sheer blatancy.

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