Thursday, March 15, 2018

SEC charges former Equifax CIO with insider trading

 / CORY DOCTOROW / 8:02 AM THU MAR 15, 2018

Jun Ying was serving as CIO of Equifax when he avoided more than $117,000 in losses by exercising and liquidating all of his stock options before the public was notified of the company's catastrophic breach -- but after he had figured out what was going on.

Ying was originally kept in the dark about the breach, led to believe that he was being asked to consult on a breach in another company on Equifax's behalf. But he texted a colleague that "We may be the one breached" and googled the impact of a smaller breach on rival Experian's share prices before selling his stock.

The DOJ indicted Ying for insider trading this week.

Read more
https://boingboing.net/2018/03/15/putting-2-and-2-together.html

No comments: