The Situation: Despite Equifax's use of a cover story to keep employees from learning it was the victim of a serious data breach, a then-employee allegedly figured it out and made illegal securities trades based on the...more
Earlier this year, the SEC released cybersecurity guidance addressing, among other things, the risk of insider trading in the event of a data breach. This risk comes in multiple forms, including the intruders trading on...more
On March 14, 2018, the SEC and DOJ sued Jun Ying, a former Chief Information Officer within an Equifax Inc. business unit, for insider trading. Specifically, they accused him of knowing about a significant Equifax data breach...more
In what appears to be the first insider trading case stemming from insider knowledge of material nonpublic cyber-related information, the Securities and Exchange Commission brought civil charges against a former Equifax...more
The Equifax hack has taken another twist – one that raises questions that every public company should consider....more
On March 14, 2018, the Securities and Exchange Commission (SEC) charged a chief information officer (CIO) for a US business division of Equifax with insider trading in advance of Equifax’s September 2017 disclosure of the...more
Holmes was one of the most famous women to come out of Silicon Valley. She founded Theranos, hyped the fraudulent blood testing scam and became for a short time a billionaire. Now all of that is gone, gone, gone. ...more
The Peltz/P&G drama continues, with the company suggesting that Trian has lost its bid for a Board seat and the fund arguing that it disagrees with the company’s counting of the ballots....more
Equifax CEO Richard F. Smith is out as the fallout continues from the massive cyberbreach of the consumer credit reporting agency that exposed the personal information of as many as 143 million people....more
As expected, the Fed left interest rates at current levels yesterday, though it hinted at another December rate hike and officially unveiled the start of its bond wind-down next month....more
Insider trading allegations have surfaced at Equifax, a credit rating agency that last week announced a data breach that could potentially affect 143 million consumers in the United States, nearly half of the country’s...more