No insider trading after data breach — Equifax

A special committee formed by Equifax to investigate the circumstances of the data breach that affected 145 million people found no proof of insider trading, the credit rating agency stated on Friday.

The committee confirmed that four high ranking executives within the company sold a total of $1.8 million in Equifax shares just days after the data breach was discovered in late July.

However, the committee concluded that the executives had no knowledge of the data breach at the time of the trading.

Additionally, it was confirmed that the stock sales were properly approved and showed no signs of insider trading.

On September 7, Equifax admitted that its systems suffered a massive data breach in late July, which affected the personal identification information, including names, social security numbers, and, in some cases, driver’s license numbers of more than 145 million people.

A number of company’s top executives including the CEO stepped down following the incident, while Equifax shares fell almost 20% in the last six months.