Equifax discovered on July 29th thatit had been hack , losing the Social Security numbers and other personal information of 143 million Americans — and then just a few days later , several of its executives sold stockworth a sum of almost $ 1.8 million . When the ward-heeler was publically annunciate in September , Equifax ’s stock pronto tank , which made the trades count very , very sketchy .
At the time , Equifax claim that its executive had no ideaabout the monumental information breach when they sell their stock . Today , the credit reportage company free further point about its inner probe that cleared all four executives of any error .
Thereport , prepared by a circuit board - appointed special citizens committee , conclude that “ none of the four executives had knowledge of the incident when their trades were made , that preclearance for the four trade was appropriately obtained , that each of the four trades at issue comported with companionship policy , and that none of the four executive engaged in insider trading . ” The committee says it brush up 55,000 text file to reach its conclusions , include email and text edition messages , and direct 62 in - somebody interviews .
“ The review was designed to pinpoint the particular date on which each of the four senior officer first learned of the security measures probe that uncovered the breach and to determine whether any of those officers was informed of or otherwise pick up of the surety investigation before his trades were action , ” the report tell .
Equifax ’s chief fiscal officer , John Gamble , sell 6,500 shares of his Equifax breed on August 1st . The investigation found that he had previously discussed the sale with a financial consultant because he want to pay for a base overhaul . He did n’t get a line about the hack until August 10th , according to the report .
Trey Loughran , Equifax ’s Chief Executive of US information solutions , initally requested commendation for his origin sale on July 28th , one day before Equifax describe the falling out . He learned that Equifax was investigating some sort of security incident on August 13th , and did n’t hear about the details until later that month , the report claims .
Equifax ’s United States President of workforce root , Rudy Ploder , sell 1,719 shares on August 2nd . investigator found that he plan to use the money for a move to a new city , and that he see about the hack on August 22nd .
The last executive involved in the trades , Douglas Brandberg , sold 1,724 shares on August 2nd . Like Ploder , he did n’t learn about the hack until August 22nd , according to the composition . Brandenberg was not initially look into , but the commission decided to review his trades after it expanded its investigating to include “ all officers of the company . ”
Equifax ’s internal investigation into the hack itself is still afoot . “ The Special Committee continue to go over the cybersecurity incident , the Company ’s response to it , and all relevant policy and practice , ” the commission said in a statement .
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