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Outrage over Equifax execs banking $2 million in stock sales

SFGate Friday, 8 September 2017
The sale of nearly $2 million in corporate stock by high-level Equifax executives shortly after the company learned of a major data breach has sparked public outrage that could turn into another hurdle for the credit rating agency. The sales all occurred before the company publicly reported the breach, a disclosure that quickly sent its stock tumbling more than 13 percent Friday. The timing of the sales could attract federal scrutiny, legal experts say, though proving insider trading would be difficult. A company spokeswoman said the executives did not know about the breach when they sold their shares.
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News video: Equifax Says 3 Top Execs 'Had No Knowledge' Of Security Breach Before Selling Stock

Equifax Says 3 Top Execs 'Had No Knowledge' Of Security Breach Before Selling Stock 00:38

Equifax said three top executives who sold nearly $2 million in company stock before a massive security breach was announced "had no knowledge" of the incident beforehand, according to an emailed statement from the credit-monitoring agency.

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