Connect with us

TRUMP-ENOMICS

Equifax Executives Dumped Their Shares Before Disclosing Data Breach to the Public

Jacob Wohl

Published

on

Spread the Truth

On September 7th, Equifax, a credit monitoring service,  announced that they had suffered a data breach that exposed the personal information of more than 143 million people. This breach included the compromising of names, date of births and social security numbers. The company says that the breach occurred through a vulnerability in the company’s website. The majority of the victims were US based, but the company says there were others in Canada and the UK.

Equifax believes that the hack took place between mid-May and July, but the company reports that they learned about the hack on July 29th.  Among other information, the company says that 209,000 of the 143M customers effected may have had their credit card numbers, drivers’ license information, home addresses, date of birth and social security numbers stolen.

New filings show that company executives sold more than $1M worth of shares before disclosing the hack to the public. “CFO John Gamble, president of U.S. information solutions Joseph Loughran, and president of workforce solutions Rodolfo Ploder — were unaware of the hacking incident. Regulatory filings show that Gamble sold $946,374 in shares, while Loughran and Ploder sold $584,099 and $250,458 in stock, respectively”, Bloomberg reports.

In percentage terms, Ploder sold 4% of his holdings of Equifax stock, Loughran sold 9% and Gamble sold more than 13% of his stake in Equifax.

When the company disclosed the data breach to the public, their stock went into free-fall, ending the day down more than 13%. Company executives maintain that they were not aware of the data breach when they dumped their shares.

Who knew what,  and when will certainly be a point of investigation for securities regulators in the coming weeks and months. In the midst of the controversy, many people mis-interpreted the company’s fine-print, as a disclosure against suing the company. The company clarified their Arbitration Clause on Friday Evening, saying: “In response to consumer inquiries, we have made it clear that the arbitration clause and class action waiver included in the Equifax and TrustedID Premier terms of use does not apply to this cybersecurity incident”.

 

 

Jacob Wohl is the CEO and Head of Fixed Income and Interest Rates for Montgomery Assets, a proprietary trading and asset management firm based in Los Angeles, CA. Jacob Wohl is the host of the Offended America Podcast

Politics

POLITICS3 days ago

What does facing a nuclear attack feel like? Ask Hawaiians

Spread the TruthThere’s a lot of discussions these days about the chance of a nuclear attack from North Korea. Americans...

POLITICS1 week ago

GOING ROGUE: Christopher Steele Will Expose Hillary’s Russian Collusion to Avoid Jail Time

Spread the TruthOn Friday, Senators Chuck Grassley and Lindsey Graham sent a formal referral to the Department of Justice, calling for federal...

POLITICS4 weeks ago

Report: Obama’s Leaks of National Security Information for Political Purposes Got Americans Killed

Spread the TruthTrump’s White House has been characterized by the media as a “leaky” operation. In absolute terms, they’re right....

POLITICS4 weeks ago

EXCLUSIVE: Imran Awan Was a Top Democrat Staffer By Day, Hezbollah Money Launderer By Night

Spread the TruthImran Awan started his Washingtonian career as an IT staffer for Florida Democrat Congressman Robert Wexler in 2004....

Featured4 weeks ago

Drugs, Guns and Human Trafficking—Inside Obama’s Secret Fight to Protect Hezbollah

Spread the TruthIn a stunning revelation, it was revealed that Obama would stop at nothing to achieve a nuclear deal...

POLITICS4 weeks ago

Why Trump Should Fire Mueller and Why Trump Won’t Fire Mueller

Spread the TruthRobert Mueller and his “unbiased” team have been plagued with issues from the day they began their investigation....

POLITICS1 month ago

Mueller’s Coup is Exposed as Peter Strzok’s Text Messages Come Out

Spread the TruthMore than 10 thousand text messages between Former Mueller investigator Peter Strzok and his mistress and fellow investigator...

POLITICS1 month ago

EXCLUSIVE: Robert Mueller Subpoenas Trump Banking Records from Capital One

Spread the TruthSpecial Counsel Robert Mueller has subpoenaed banking records belonging to President Trump, according to sources close to the...

POLITICS2 months ago

North Korea Crosses Trump’s Red Line. What now?

Spread the TruthOn Wednesday North Korea test-fired an intercontinental ballistic missile capable of delivering a warhead “Anywhere in the world”,...

POLITICS2 months ago

Insider Exposes Obama’s Deep State Coverup of Hillary Clinton’s Corruption

Spread the TruthOn Monday evening, a former inspector general for the intelligence community revealed the details of Obama’s deep-state coverup...

POLITICS2 months ago

Putin Was With Her: Inside Russia’s Covert Effort to Undermine the Trump Campaign

Spread the TruthForeign interference in the 2016 Presidential election was not unique. Intelligence agencies have a long history of monitoring...

POLITICS2 months ago

Jim Comey Silenced Concerns About McCabe Taking Money from Clinton

Spread the TruthStunning new documents, obtained through a Freedom of Information Act (FOIA) request by Judicial Watch, reveal how James Comey...

Listen to Stitcher
%d bloggers like this: