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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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Source: Bloomberg Technology - < > Embed

News video: Equifax Stock Sales Said to Be Focus of DOJ Probe

Equifax Stock Sales Said to Be Focus of DOJ Probe 02:08

Sep.18 -- Bloomberg’s Matt Robinson discusses the Justice Department’s criminal investigation into whether top officials at Equifax violated insider trading laws. He speaks on “Bloomberg Markets.”

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