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> Pros for not prosecuting: The size of the sells were truly negligible for all executives involved, in proportion to how many shares they have and routinely l
by ringaroundthetx 9y ago
> Pros for not prosecuting:
The size of the sells were truly negligible for all executives involved, in proportion to how many shares they have and routinely liquidate. The same argument that there were any sells at all would been made regardless of the number of shares.
A company that size will always have material non public information.
Equifax's OPSEC was horrible all along and a gigantic leak was bound to happen, so the extent and ramifications of this fairly routine breach were eeeeehhhh not considered.
> Cons for not prosecuting:
The execs did it on the same day.
Something something the people something want blood.
- rgbrenner 9y agoA company that size will always have material non public information. If you're in that position, then wouldn't you make sales regularly on scheduled dates? (say quarterly) Otherwise theyre asking to get prosecuted, if not for this sale then the next.
- ringaroundthetx 9y agoRight, and these execs did that as well. I mentioned that in the "routinely liquidate" part, but I guess it wasn't clear, they do liquidate shares on a schedule. Sure, doing anything out of that schedule is always a risk, and doing things on that schedule doesn't mean there isn't insider trading still happening. A successful prosecution under these equities-specific market sanctions will rely on more than that.
- rhizome 9y agoI'm under the impression that these were not 10b5-1 sales.
- jlgaddis 9y agoI am too, since I read TFA and it says -- twice, I think -- that they weren't.
- ringaroundthetx 9y agoNothing I said disputes that? We are agreeing? I guess I'll attempt to reword it yet again: They have 10b5-1 sales, or even if we don't know we can see that they have sales on an internval. They can have sales outside of the schedule. Sales outside of the schedule always have the risk of scrutiny. These sales are getting scrutiny for being outside of the schedule.
- deleted 9y ago[deleted]
- otakucode 9y agoIf I were a shareholder in Equifax, I would probably be looking very closely at what those executives are paid. They adamantly insist that they had no idea about the most significant thing to happen at their company in years. Clearly, they're not just lazy, they have to be aggressively, emphatically incompetent.
- chiph 9y agoThey're acting like they're not a technology company. Despite rooms full of servers and storage devices that hold their only product.