> On August 2, 2017, Equifax notified the FBI of the Data Breach. It also retained legal counsel to guide its investigation into the breach. The same day, Equifax’s legal counsel retained Mandiant to assist in the investigation into the incident. Experts would later note that these steps suggested that Equifax knew that the Data Breach was serious. In the days immediately following the discovery of the Data Breach, Gamble and Ploder sold more than $1 million in Equifax stock. On August 1, Gamble, Equifax’s Chief Financial Officer, sold stock for $946,374, representing more than thirteen percent of his holdings. On August 2, Ploder sold stock for $250,458, representing four percent of his holdings. These sales were not made pursuant to a Rule 10b5–1 trading plan. Smith would later state in congressional testimony that Ploder and Gamble would have been in many of the meetings he had concerning the Data Breach.
Am I crazy or is this not blatant insider trading?
Am I crazy or is this not blatant insider trading?