Equifax Breach Response Turns Dumpster Fire
I cannot recall a previous data breach in which the breached company’s public outreach and response has been so haphazard and ill-conceived as the one coming right now from big-three credit bureau Equifax, which rather clumsily announced Thursday that an intrusion jeopardized Social security numbers and other information on 143 million Americans.
Bloomberg moved a story yesterday indicating that three top executives at Equifax sold millions of dollars worth of stock during the time between when the company says it discovered the breach and when it notified the public and investors.
Shares of Equifax’s stock on the New York Stock Exchange were down more than 13 percent at time of publication versus yesterday’s price.
The executives reportedly told Bloomberg they didn’t know about the breach when they sold their shares. A law firm in New York has already announced it is investigating potential insider trading claims against Equifax.