Ex-Equifax Executive Charged with Insider Trading
A former Equifax executive who sold stock for nearly $1 million before the company's massive data breach was publicly announced faces insider trading charges.
Federal prosecutors announced Wednesday that a grand jury indicted Jun Ying, the former chief information officer of Equifax's U.S. Information Solutions.
They say Ying exercised all his available stock options and sold his Equifax stock after he received information in late August that caused him to realize Equifax was the victim of a breach.
Equifax shares plunged in value after the Atlanta-based credit reporting company disclosed the breach on Sept. 7. The company ultimately revealed that the personal information of nearly 150 million Americans was exposed.
It wasn't immediately clear whether Ying had an attorney who could comment.