Equifax says no wrongdoing in executive stock sales

Equifax says no wrongdoing in executive stock sales
Posted at 6:55 PM, Nov 03, 2017
and last updated 2017-11-03 15:17:58-04

(CNN) - Equifax said four executives that sold off company stock before its massive data breach was announced did not commit insider trading.

The executives sold millions of dollars' worth of shares between July 28 and August 2.

Equifax said it first realized it had been hacked on July 29. The breach was not revealed to the public until a month later.

A special committee of Equifax board members that are not employed by the company investigated the trades.

The committee reviewed 55,0000 documents, including emails, text messages and phone logs.

It concluded the executives committed no wrongdoing.

The data breach at Equifax compromised the personal information of about 143 million people.

More than thirty senators asked the Securities and Exchange Commission and Department of Justice to investigate the trades.

Neither agency has said if they launched probes.

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