We may be the one breached,” and “I’m starting to put 2 and 2 together,” the indictment says. Former Equifax executive Jun Ying has been charged with insider trading for dumping stock before the company's massive data breach was revealed to the public. Charting, Tear Sheets, Press, Price Performance & more. The stock closed Thursday at $142.72, and plummeted once Equifax officials announced the breach after trading ended. Finance can be an extraordinary resource that has served so many analysts so well through the decades. In an emailed statement, lawyers Douglas Koff and Craig Warkol, who are representing Ying, declined to comment. Ying is the only former Equifax executive named in Tuesday’s indictment. Equifax was the best-performing stock in our Editor’s Portfolio in 2019, rising 52%. Equifax Chief Financial Officer John Gamble and three other executives sold shares worth a combined $1.8 million days after Equifax discovered suspicious activity on its network — and nearly a month before Ying sold his shares — but Equifax said an independent committee determined that these other executives did not know of the breach when their trades were made. WATCH: Equifax reportedly knew for months about cyber-security vulnerability. The dividend yields just 1.36%, and despite what looks like a nice chart so far in 2019, it still trades at about 15% less than it did last September. VentureBeat called the exposure of data on 140+ million customers "one of the biggest data breaches in history." To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. In March 2018, the Security and Exchange Commission accused Jun Ying, Equifax's former CIO, of illicit insider trading, by selling company stock before the breach was publicly disclosed. “We are fully cooperating with the DOJ and the SEC, and will continue to do so.”. Please read our Commenting Policy first. Equifax’s stock price tumbled after the breach but has since recovered most of its losses. Equifax CEO retires in wake of damaging cyberattack. (Photo by Sarah Silbiger/Getty Images) Are organizations better … It is up almost 50% so far this year. Insider trading charges were announced Wednesday against a former Equifax executive who sold his shares for nearly $1 million before the company’s massive data breach … A company's reputation still suffers a year after a major data breach. Equifax shares dropped 13% in early trading the day after the breach was made public. On the surface, the Equifax downgrade may appear to be unfairly punishing a company for an event that happened nearly two years ago. One Year Later: The Impact of Equifax's Data Breach. The SEC noted that at the time of the breach, Ying was often entrusted with nonpublic company information and was a leading candidate to become the global CIO of Equifax, a job he was in fact offered on Sept. 15, the same day the company announced CIO Dave Webb would retire. Ying was aware of these changes, and employees who reported to him were responsible for some of them. You can change your choices at any time by visiting Your privacy controls. Three days later, Ying used his Equifax computer to do internet searches on the effect on the Experian stock price of a 2015 breach at that credit reporting company. Insider trading charges were announced Wednesday against a former Equifax executive who sold his shares for nearly $1 million before the company’s massive data breach was revealed to the public and the stock price plunged. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Analyst Jasper Hellweg downgraded Equifax's stock from Buy to Hold with no assigned price target. A Case Study Analysis of the Equifax Data Breach 2 A Case Study Analysis of the Equifax Data Breach The Equifax data breach was one of the most significant cyberattacks of 2017. Results of a new survey show how negative sentiment can linger. On September 7, 2017, Equifax disclosed the breach and its scope: affecting over 140 million Americans. Yahoo is part of Verizon Media. Shares of the beleaguered credit monitoring company plunged nearly 10% in early trading Thursday morning before recovering a bit. WATCH: Citizen activist group sends ‘Monopoly Guy’ to Equifax hearing. Real-time Price Updates for Equifax Inc (EFX-N). And although Equifax’s stock price initially collapsed in the weeks following, the price bounced back. A federal grand jury on Tuesday indicted Jun Ying, 42, the former chief information officer of Equifax’s U.S. Information Solutions, part of the Atlanta-based credit reporting company. However, a 2018 U.S> Congressional investigation into the cyber attack found that the data breach was “entirely preventable.” In addition, Equifax appeared to be woefully unprepared for such a cyber attack. After 14 market days, or roughly three weeks, share prices drop -3.5% on average. Yahoo! It's a program which is capable of providing you with the most recent updates about the stock industry. Equifax Stock Price After Breach. The SEC and U.S. Attorney’s Office in Atlanta said federal investigations are ongoing. Equifax stock rose 0.4% on Monday and closed at $137.8. Equifax did not publicize the breach until more than a month after they discovered it had happened; stock sales by top executives around this time gave rise to accusations of insider trading. Equifax stock has dropped 35% since the day before the data breach was made public. In the six months leading up to a breach, average share price grew +2.6%, compared to -3.0% following a breach. Equifax’s stock … Key Equifax Stakeholders Sell Stock Days after Data Breach By Karen Painter Randall on 09.18.2017 On July 29, 2017, Equifax reportedly discovered a massive security breach that occurred in mid-May to July that compromised approximately 143 million United States consumers or 44% of Americans. Want to discuss? The scale of the data breach is breathtaking. Yahoo Finance is one of the absolute most adored product inside the small business. Equifax is down more than 33% since the news broke on September 7 that it had been hacked. Rodolfo Ploder, president of Equifax's workforce solutions business, sold $250,000 US worth of stock on Aug. 2. The sales occurred before the company announced the breach to the public on Thursday. READ MORE: He exercised his Equifax options and sold the shares on Aug. 28, within an hour of researching the stock move in Experian after its September 2015 data breach, the SEC said. Information about your device and Internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Data on … Jun Ying, 43, exercised all his available stock options before making the sale and realized a gain of more than $480,000 on the sale, prosecutors said. Federal authorities say Equifax discovered the suspicious activity on its network on July 29. Shares opened this morning at $121.82 amid heavy trading volume. That represented a gain of more than $480,000, prosecutors said. Equifax Leadership Dumped Stock Before Announcing Data Breach - Atlanta, GA - Congress is requesting information about who knew what — and when — in light of the revelation of the stock sales. “Upon learning about Mr. Ying’s August sale of Equifax shares, we launched a review of his trading activity, concluded he violated our company’s trading policies, separated him from the company and reported our findings to government authorities,” Equifax said in an emailed statement. On Aug. 25, Ying along with several employees who reported to him were asked to help respond, although he was told then that the work involved a potential Equifax customer, not Equifax itself, the indictment says. Equifax stock fell 38 cents to close at $105.99 US on Friday. A total of about 147.9 million Americans have been impacted by Equifax’s data breach, which remains the largest exposure of personal information in history. The full Congressional report cited “a lack of accountability and management structure,” “compl… Three years in, the Equifax breach has provided some important lessons for cybersecurity teams. Equifax is also a hard stock to recommend. 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Stock prices suffer following a breach, but perhaps not as much as one might assume. That’s about $117,000 more than it would have been worth immediately after the price plummeted when the breach was disclosed. Former Equifax executive who ditched stock ahead of data breach scandal charged. In mid-August, the company changed administrative credentials for many of its internal databases. Find out more about how we use your information in our Privacy Policy and Cookie Policy. The company has taken the right steps, but news flow will remain negative for some time. Shares of the company rose 0.8 percent to $136.87 at 10:11 a.m. in New York, the highest level since the breach was disclosed last year. By Michael Brown; October 29, 2018; In 2017, consumer credit agency Equifax suffered a major data breach. Equifax stock is feeling the market's reaction, as the company's data breach and its response starts to impact its bottom line. A former Equifax executive has been sent to prison for insider trading during a data breach in 2017. But the Equifax breach had perhaps the most potential for damage. Among the 143 million Americans potentially affected by Equifax Inc.’s breach, some might find a tiny bit of solace in how the credit-reporting company’s shares have cratered. The Securities and Exchange Commission on Wednesday also charged Ying with insider trading. Jun Ying was the CIO in the credit rating company’s US Information Solutions in 2017. Ying sent text messages to a co-worker saying, “Sounds bad. The stock is currently trading almost at its two-year high. The SEC complaint says Ying worked at Equifax until October. Equifax says that at the time, the executives, who sold nearly $2 million in stock, didn't know of the breach, which exposed personal data of 143 million … Equifax breach: 2 Canadian class-action lawsuits seeking financial damages. 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