Three Equifax executives sold off $1.8 million in shares before the company announced a massive security breach. Because of the suspicious timing, an investigation has been launched by the Department of Justice. They got rid of their shares shortly after Equifax claims it discovered the breach.
The executives in question are CFO John Gamble, President of US Information Solutions Joseph Loughran and President of Workforce Solutions Rodolfo Ploder.
An investigation also exists within the SEC, which is looking to determine whether their actions should be considered insider trading. The DOJ is working with the SEC.
According to Equifax, the executives were unaware of the breach when they sold their shares.
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