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Equifax Senior Executives Sold Stock Before Cyber Hack Revealed

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posted on Sep, 8 2017 @ 11:26 AM
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Ah the "free" market. Remember executives never loose.


Three Equifax Inc. senior executives sold shares worth almost $1.8 million in the days after the company discovered a security breach that may have compromised information on about 143 million U.S. consumers.
www.bloomberg.com...

The whole thing is a coincidence. The executives we not informed of the data breech and the sale was just business as usual.


The trio had not yet been informed of the incident, the company said late Thursday.


Sold a small percentage of their shares. One exec sold $946,374, another sold $584,099 and the final exec sold $250,458. See nothing to worry about it was all above board and nothing to see here.


The three “sold a small percentage of their Equifax shares,” Ines Gutzmer, a spokeswoman for the Atlanta-based company, said in an emailed statement. They “had no knowledge that an intrusion had occurred at the time.”




posted on Sep, 8 2017 @ 11:30 AM
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Move along. Nothing to see here.



posted on Sep, 8 2017 @ 11:32 AM
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a reply to: seasonal

Wonder what qualified as small?
3%
9%
40%



posted on Sep, 8 2017 @ 11:35 AM
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originally posted by: seasonal
Ah the "free" market. Remember executives never loose.


Three Equifax Inc. senior executives sold shares worth almost $1.8 million in the days after the company discovered a security breach that may have compromised information on about 143 million U.S. consumers.
www.bloomberg.com...

The whole thing is a coincidence. The executives we not informed of the data breech and the sale was just business as usual.


The trio had not yet been informed of the incident, the company said late Thursday.


Sold a small percentage of their shares. One exec sold $946,374, another sold $584,099 and the final exec sold $250,458. See nothing to worry about it was all above board and nothing to see here.


The three “sold a small percentage of their Equifax shares,” Ines Gutzmer, a spokeswoman for the Atlanta-based company, said in an emailed statement. They “had no knowledge that an intrusion had occurred at the time.”


It does seem "fishy". Executives sell shares all the time, but without knowing 1) how often they sell and 2) their current holdings, you can't really draw any conclusions.

However, what are the odds that three execs would sell a bunch of shares prior to an announcement of this magnitude? I highly doubt they didn't know about the breach. It isn't like they would have found out about this in the morning paper. They'd know before the public.



posted on Sep, 8 2017 @ 11:35 AM
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a reply to: seasonal

How is this even legal? I'm sure senior officials would know nothing about a massive cyber attack and would all unload stock coincidentally together... total horsesh*t.. I hope the SEC/AG puts a special investigator on this..



posted on Sep, 8 2017 @ 11:44 AM
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a reply to: jhn7537

The same SEC that didn't see the 2008 "bubble" coming?

Remember all the trouble and jail time that was handed down to the corps/exec's who's actions are still rippling trouble through the markets and world? I hardly have faith that there is going to be anything found here but legal and super clean actions on the part of the exes.



posted on Sep, 8 2017 @ 11:59 AM
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Very bad. But, let's cry a river of tears and let's see who cares.
And these are the people who have authority over our lives.



posted on Sep, 8 2017 @ 12:05 PM
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a reply to: seasonal

No way senior executives did not immediately know, once discovered by their security teams. In fact, their data breach policies would have required such immediate notifications. Moreover this breach would have operated as a nuclear bomb inside Equifax. Absolutely no way this could have been kept secret inside their halls. There aren't that many employees who work in their corporate headquarters.

I'm placing a bet that someone goes to jail for insider trading.


edit on 8-9-2017 by loam because: (no reason given)



posted on Sep, 8 2017 @ 12:10 PM
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originally posted by: loam
a reply to: seasonal

No way senior executives did not immediately know, once discovered by their security teams. In fact, their data breach policies would have required such immediate notifications. Moreover this breach would have operated as a nuclear bomb inside Equifax. Absolutely no way this could have been kept secret inside their halls. There aren't that many employees who work in their corporate headquarters.

I'm placing a bet that someone goes to jail for insider trading.


We can only hope if they did something wrong that they are punished for it.
I found out my information was breeched due to this event.

-Alee



posted on Sep, 8 2017 @ 12:11 PM
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What a giant steaming pile..didn't know??..riiiiiight, I'm sure it was all above board.



posted on Sep, 8 2017 @ 12:19 PM
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a reply to: NerdGoddess

Pretty much EVERYONE who has an active credit file. I'd be willing to bet the number is in fact wrong. I believe the only way it would be less than 100% is if the intrusion was through some major national furnisher. In that scenario, I could see hackers not having 100% access to Equifax's data.

It will be interesting to see what more we learn about this breach in the coming weeks.



posted on Sep, 8 2017 @ 02:24 PM
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As someone who has to deal with credit agencies on a daily basis, I think they are the scum of the earth. Credit reporting is a huge scam against consumers imho.



posted on Sep, 8 2017 @ 02:45 PM
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The top dogs are always the last to know. Yeah, right.



posted on Sep, 8 2017 @ 02:49 PM
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originally posted by: Edumakated
As someone who has to deal with credit agencies on a daily basis, I think they are the scum of the earth. Credit reporting is a huge scam against consumers imho.


You need to write a thread on this. I am always interested in a insiders perspective to any org that is as powerful as the credit guys.



posted on Sep, 8 2017 @ 02:52 PM
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yea, and shocker!!....they announced it right before the hurricane hits....the SEC should fry their collective asses, and put them in prison.



posted on Sep, 8 2017 @ 02:58 PM
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The credit people have positioned themselves to help the banks screw people. Nothing much will happen.



posted on Sep, 8 2017 @ 04:57 PM
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a reply to: seasonal


I call BS that they didn't know. What a crock. These yahoos need to have their testees nailed to a tree stump and tipped over backwards.

edit on 8-9-2017 by Tarzan the apeman. because: Because they let me.



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