A former Equifax executive has been charged by the SEC with insider trading after allegedly selling his stock in the company before it announced last year’s massive data breach.
According to the SEC, Jun Ying, the CIO of an Equifax business unit and next in line to be the global CIO, received confidential information about the company’s breach before the news was public. Ying allegedly exercised his stock options and sold his shares, making close to $1 million and avoiding a $117,000 loss when the stock price tanked post-announcement.
The SEC said the US Attorney’s Office for the Northern District of Georgia is also filing criminal charges against Ying.
Equifax, a data broker, became the subject of…
from The Verge – All Posts https://www.theverge.com/2018/3/14/17119538/equifax-insider-trading-data-breach-charges