In today's edition of unfettered corporate greed, we bring you the Equifax managers who apparently sold almost $1.8 million in stock after the company became aware that it had a big problem on its hands.
As Bloomberg reports, three of the company's senior executives sold nearly $1.8 million in shares after the company learned internally that it had exposed the private data, including social security and driver's license numbers, of as many as 143 million people in the U.S.
The transactions in question were initiated by Chief Financial Officer and Corporate VP John Gamble who sold $946,374 worth of shares, President of U.S. Information Solutions Joseph Loughran who dumped $584,099 and President of Workforce Solutions Rodolfo Ploder who sold $250,458 in shares. As Bloomberg notes, these transactions were not pre-scheduled trades and they took place on August 2, three days after the company learned of the hack.
While news of the massive privacy failure just blew up, the hack took place from mid-May to July. The company described the hack in a statement on Thursday:
"The information accessed primarily includes names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers. In addition, credit card numbers for approximately 209,000 U.S. consumers, and certain dispute documents with personal identifying information for approximately 182,000 U.S. consumers, were accessed."
Equifax has set up a dedicated website for anyone potentially affected by the hack, but on top of asking freshly screwed customers to give Equifax their social security numbers, it doesn't provide any actual functionality at the time of writing.
We have reached out to Equifax for clarification on these transactions and will update this story as it develops.