Equifax Inc. (NYSE: EFX)
San Francisco - Hagens Berman Sobol Shapiro LLP reminds investors in Equifax Inc. (NYSE: EFX) of the November 13, 2017 Lead Plaintiff deadline in the securities class action pending in the United States District Court for the Northern District of Georgia.
If you purchased or otherwise acquired securities of EFX between February 25, 2016 and September 7, 2017, and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information contact Reed Kathrein, who is leading the firm’s investigation, by calling or emailing EFX@hbsslaw.com.
On September 7, 2017, EFX revealed that its systems were vastly hacked and impacted nearly 143 million U.S. consumers, and driving the price of EFX shares down 13.7% to close at $123.23 on September 8, 2017. EFX revealed that it learned about the unauthorized access on July 29, 2017. Before informing investors and the public about the data breach, the Company’s Chief Financial Officer and two other corporate insiders sold shares for profits of $1.7 million. Additional unusual option activity in late August also potentially exploited inside knowledge of the security breach in order to profit on information not available to the public.
On September 20, 2017, The Wall Street Journal reported the first evidence of hackers’ access to EFX systems occurred on March 10, 2017, not in May 2017 as EFX previously disclosed.
On September 26, 2017, the Company announced Chairman and CEO Richard F. Smith will “retire”.
“We’re focused on what appears to be suspiciously timed insider selling within two trading days after the Company says it discovered the breach, the option activity and why management took so long to inform investors of the breach,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding EFX should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email EFX@hbsslaw.com.
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