Honest Corporate America? Three Equifax executives sold $2 million worth of shares days after cyber-attack became Public - by Todd Haselton

Three executives of Equifax (EFX) sold shares worth nearly $2 million in the company days after a data breach was found to affect 143 million consumers in the United States, filings to the Securities and Exchange Commission showed.

The fillings showed that the trio – Chief Financial Officer John Gamble Jr., workforce solutions president Rodolfo Ploder and U.S. information solutions president Joseph Loughran – offloaded the shares on August 1 and August 2.

Equifax said on Thursday it discovered a data breach on July 29. The credit reporting firm said the exposed data included names, birth dates, Social Security numbers, addresses and some driver's licence numbers.

The company added that 209,000 U.S. credit card numbers were obtained, in addition to "certain dispute documents with personal identifying information for approximately 182,000 U.S. consumers."

Equifax acknowledged in a statement that the three executives sold a "small percentage" of their shares, but that they "had no knowledge that an intrusion had occurred at the time they sold their shares."

The SEC declined to comment on the share sales.

Note EU-Digest:The SEC fillings showed that the trio – Chief Financial Officer John Gamble Jr., workforce solutions president Rodolfo Ploder and U.S. information solutions president Joseph Loughran – offloaded the shares on August 1 and August 2. 

Equifax should fire the executives and they should be prosecuted by the SEC for using "inside information" to their financial gain, regardless of what Equifax or they say.

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