Equifax says its own investigation clears execs in post-breach trade

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Equifax says its own investigation clears execs in post-breach trade

Equifax said Friday that a special committee of its own appointing has cleared four top executives of wrongdoing in the sale of stock when the company knew about a massive data breach, but had not yet announced it.

The executives sold the stock in early August after the company had become aware of the data breach and was around the time that Equifax reported it to federal investigators.

However, in the Friday statement, the company said the committee had determined that the executives did not know about the breach when they sold the stock.

The committee, appointed in September after the breach and stock sale were revealed, conducted “dozens of interviews, and reviewed more than 55,000 documents including emails, text messages, phone logs and other records,” the statement said.

The breach and the stock sale are still subject to Congressional oversight and an ongoing investigation by federal regulators.

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