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The Latest On Equifax: Things Aren't Getting Any Better

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The Latest On Equifax: Things Aren't Getting Any Better

The ongoing Equifax Inc. (NYSE: EFX) saga may have taken a turn for the worse as the U.S Justice Department is now getting involved, Bloomberg reported.

Equifax, the victim of a massive data breach, is now facing a criminal investigation if company insiders who sold some of their stock before the data breach was publicly disclosed violated trading laws. U.S. prosecutors in Atlanta may also be working with other government agencies, including the Federal Bureau of Investigation and the Securities and Exchange Commission.

Of particular note, the regulatory filings that were accompanied with the insider sales from three executives doesn't indicate it was part of a pre-scheduled trading plan, Bloomberg added.

Meanwhile, Equifax is seeing what could be a notable exodus of high ranking officials. The company confirmed late Friday afternoon that its chief security officer Susan Mauldin and chief information officer David Webb both left the company. Officially, the company said both executives are "retiring," Engadget noted.

Equifax's stock remains under selling pressure and was trading lower by around 0.30 percent Monday afternoon at $92.73, which is notably lower compared to its 52-week high of $147.02 but above its post data breach lows of $89.59.

Related Links:

Where Is The Floor In Equifax Shares?

With Equifax Down 30%, Is The Stock Finally Fairly Priced?

 

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Posted-In: data breach David Webb EquifaxNews Legal Events Top Stories Media Best of Benzinga

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