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It's very unlikely that he didn't know about the security problems, that hadn't be released. I'd say about 99.9% chance that he knew. We know that it's very tem

It's very unlikely that he didn't know about the security problems, that hadn't be released. I'd say about 99.9% chance that he knew. We know that it's very tempting for otherwise intelligent people to fall victim to this, like our favorite domestic lifestyle wallstreet-er CEO, Martha Stewart.

TylerE 9y ago
Stewart was done for obstruction and perjury, not insider trading.
- spear 9y ago
  Not to pick on you because I see this response a lot, but that's really misleading. She was also indicted for insider trading and though that charge was thrown away by the judge, the SEC also filed a civil case against her for insider trading. She settled that one by paying $195,000 and agreeing not to serve as an officer of any public company for five years. It's not like the insider trading didn't cost her anything. https://en.wikipedia.org/wiki/ImClone_stock_trading_case#Repercussions_and_aftermath https://en.wikipedia.org/wiki/ImClone_stock_trading_case#Rep...
mulmen 9y ago
Can you share the dataset you used to calculate the 99.9% probability? Do you have experience with other CEOs in this kind of situation? Do you have inside knowledge of Equifax? I'm not sure how anyone can be so certain in the absence of evidence. Indeed this is the reason we put the burden of proof on the accuser and assume innocence.
- jonknee 9y ago
  Did you not read the press release? They have texts showing he was aware and knew it was bad. > On Friday, August 25, 2017, Ying texted a co-worker that the breach they were working on “Sounds bad. We may be the one breached.” The following Monday, Ying conducted web searches on the impact of Experian’s 2015 data breach on its stock price. Later that morning, Ying exercised all of his available stock options held at UBS Financial Services, resulting in him receiving 6,815 shares of Equifax stock, which he then sold.
  - nathan_long 9y ago
    That does look bad. However, it describes the CIO. You're responding to a conversation about the CEO. And again, innocent until proven guilty is a good principle, and we need to let the justice system do its work.
    - jonknee 9y ago
      Typo on my part, the discussion is about the CIO.
- Jesus_Jones 9y ago
  I used my own experience working in a variety of companies including large corporations, and the way they sometimes told us information ahead of earnings and how cautious we needed to be about when we might sell something. I have never been more than a second level dev manager, but I can't imagine how this could happen by accident. So I had required training, cautions every quarter ahead of time, reminders when there was an open period, reminders about not talking to the press. This isn't rocket science. So someone who works on earnings announcements, knows the quarterly facts early, has experience with this just forgot or something? It's not credible.
alasdair_ 9y ago
Martha Stewart went to jail for lying to investigators, not for any other crime.

TylerE 9y ago

Stewart was done for obstruction and perjury, not insider trading.

spear 9y ago
Not to pick on you because I see this response a lot, but that's really misleading. She was also indicted for insider trading and though that charge was thrown away by the judge, the SEC also filed a civil case against her for insider trading. She settled that one by paying $195,000 and agreeing not to serve as an officer of any public company for five years. It's not like the insider trading didn't cost her anything. https://en.wikipedia.org/wiki/ImClone_stock_trading_case#Repercussions_and_aftermath https://en.wikipedia.org/wiki/ImClone_stock_trading_case#Rep...

mulmen 9y ago

Can you share the dataset you used to calculate the 99.9% probability? Do you have experience with other CEOs in this kind of situation? Do you have inside knowledge of Equifax? I'm not sure how anyone can be so certain in the absence of evidence. Indeed this is the reason we put the burden of proof on the accuser and assume innocence.

jonknee 9y ago
Did you not read the press release? They have texts showing he was aware and knew it was bad. > On Friday, August 25, 2017, Ying texted a co-worker that the breach they were working on “Sounds bad. We may be the one breached.” The following Monday, Ying conducted web searches on the impact of Experian’s 2015 data breach on its stock price. Later that morning, Ying exercised all of his available stock options held at UBS Financial Services, resulting in him receiving 6,815 shares of Equifax stock, which he then sold.
- nathan_long 9y ago
  That does look bad. However, it describes the CIO. You're responding to a conversation about the CEO. And again, innocent until proven guilty is a good principle, and we need to let the justice system do its work.
  - jonknee 9y ago
    Typo on my part, the discussion is about the CIO.
Jesus_Jones 9y ago
I used my own experience working in a variety of companies including large corporations, and the way they sometimes told us information ahead of earnings and how cautious we needed to be about when we might sell something. I have never been more than a second level dev manager, but I can't imagine how this could happen by accident. So I had required training, cautions every quarter ahead of time, reminders when there was an open period, reminders about not talking to the press. This isn't rocket science. So someone who works on earnings announcements, knows the quarterly facts early, has experience with this just forgot or something? It's not credible.

alasdair_ 9y ago

Martha Stewart went to jail for lying to investigators, not for any other crime.