Equifax Revealed Data Hack After Execs Sold $1.8 Million in Stock

UNITED NEWS INTERNATIONAL (UNI) — Executives at Equifax sold nearly $2 million in stock before the company revealed the personal information of millions of Americans had been hacked.

Hackers potentially compromised 143 million Americans’ social security numbers and other personal information after breaking into the databases at the credit reporting agency.

The executives, including Equifax’s chief financial officer Richard F. Smith, sold around $1.8 million in shares before the company announced the security breach on Sept. 7.

Equifax said it discovered the breach July 29 and Securities and Exchange Commission information shows the men sold their shares Aug. 1 and 2.

An Equifax spokesperson said when the executives made the sales, they “had no knowledge that an intrusion had occurred.”

Experts say the hack may not be as expansive as recent data breaches at Yahoo, for example, but it’s potentially more damaging due to the personal and financial information involved.