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How three Equifax execs sold $1.8million of stock days after massive data breach - which wasn't revealed to the public for more than SIX WEEKS

Ariel Zilber and Daniel Roth For Dailymail.com and Associated Press

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  • Equifax says the three company executives who sold stock days after company discovered major security breach were not aware of the hack at the time 
  • On Thursday, company disclosed a cyberattack that ran from May to July which exposed Social Security numbers and sensitive data of 143 million Americans 
  • The hack itself was discovered by the company on July 29
  • Days later, Chief Financial Officer John Gamble and two other executives, Rodolfo Ploder and Joseph Loughran, sold a combined $1.8million in stock 
  • Insider trading is a federal offense punishable by a maximum prison sentence of 20 years and a $5million fine, according to the SEC
  • By Ariel Zilber and Daniel Roth For Dailymail.com and Associated Press

     

    The credit reporting agency Equifax says that three company executives who sold stock just days after the company discovered a major security breach were not aware of the hack at the time.

    On Thursday, the company disclosed a cyberattack that ran from mid-May to July. The attack exposed the Social Security numbers and other sensitive information of about 143 million Americans. 

    Equifax - one of the three largest credit agencies in the United States - said it detected the hack on July 29.

    On August 1 and August 2, Equifax Chief Financial Officer John Gamble and two other executives, Rodolfo Ploder and Joseph Loughran, sold a combined $1.8million in stock.

    In a statement, the company said the executives 'had no knowledge that an intrusion had occurred at the time they sold their shares.'

    Equifax disclosed a cyberattack Thursday that ran from mid-May to July which exposed the Social Security numbers and other sensitive information of about 143 million Americans

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    Equifax disclosed a cyberattack Thursday that ran from mid-May to July which exposed the Social Security numbers and other sensitive information of about 143 million Americans

    Bloomberg News first reported the divestitures.

    The sales effectively insulated the executives from a downturn in Equifax's stock Thursday. 

    The stock dropped 13 percent in extended trading after the announcement of the breach.

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    Insider trading, or buying or selling shares based on information that is not available to the public, is a federal offense punishable by a maximum prison sentence of 20 years and a $5million fine, according to the Securities and Exchange Commission.

    The Atlanta-based company said Thursday that 'criminals' exploited a U.S. website application to access files between mid-May and July of this year.