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(NASDAQ)   Let's check in on Equifax's stock price, surely they've recovered by now   ( nasdaq.com) divider line
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2145 clicks; posted to Business » on 14 Sep 2017 at 11:20 AM (18 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



44 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2017-09-14 10:08:27 AM  
Eh, only six point two billion in market value has been erased. It's only a flesh wound.
 
2017-09-14 10:13:59 AM  
farking burn it to the ground.
 
2017-09-14 10:15:52 AM  
img.fark.netView Full Size

The Bear Market of the Beast.
 
2017-09-14 10:22:50 AM  

FortyHams: farking burn it to the ground



What needs burning down is the entire credit reporting scheme.
A system that requires your permission is the first order of business.
The we can talk about inaccurate information and personal privacy.
 
2017-09-14 10:25:07 AM  
And those that created this steaming pile of sh*t will be welcome additions to the other 2 credit agencies once Beast #1 is dead.
 
2017-09-14 10:27:19 AM  
it's recovered a lot. it had dipped down into the 80's a while ago. Buy Mortimer, buy.
 
2017-09-14 10:33:18 AM  
The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.
 
2017-09-14 10:35:22 AM  
img.fark.netView Full Size
 
2017-09-14 10:39:10 AM  

ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.


This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry
 
2017-09-14 10:53:22 AM  
Since the average investor has a memory of a gold fish, now is almost the time to buy their stock
 
2017-09-14 10:57:51 AM  
This company is neither Fax nor Equi, discuss.
 
2017-09-14 11:33:03 AM  
In Argentina you could log into there employee portal with admin and admin (username/password) that is confidence inspiring MAGA!

nothing is going to happen to them there execs will get to sell there shares and walk away with the money and in the worst case they will get there golden parachutes as well
 
2017-09-14 11:34:00 AM  

flucto: Eh, only six point two billion in market value has been erased. It's only a flesh wound.


img.fark.netView Full Size
 
2017-09-14 11:36:03 AM  
img.fark.netView Full Size
 
hej [recently expired TotalFark]
2017-09-14 11:50:43 AM  
This is delicious.  Just $90 or so to go....
 
2017-09-14 11:54:59 AM  
img.fark.netView Full Size
 
2017-09-14 11:59:13 AM  
Fun fact: the Federal Reserve Bank of New York uses Equifax's credit report data on the individual level to construct something called the Consumer Credit Panel, designed for research into household indebtedness. It costs them millions of dollars every year, and if they weren't the Fed they might not have gotten it at all.

I suspect some people at the New York Fed are wondering if they'd have been better off asking a Romanian hacker to name his price in Bitcoin for the data instead, because it would have been much cheaper that way.

Not getting a kick myself.
 
2017-09-14 12:02:27 PM  
img.fark.netView Full Size
 
2017-09-14 12:06:31 PM  
People don't really like that so few corporations have so much control of our information and our financial lives.
They like it even less when the most important job these corporations have - keeping that controlling information safe - is the job they fark up the worst.
/burn Equifax, burn
 
2017-09-14 12:08:50 PM  

snocone: FortyHams: farking burn it to the ground


What needs burning down is the entire credit reporting scheme.
A system that requires your permission is the first order of business.
The we can talk about inaccurate information and personal privacy.


And someone CHECKING your credit shouldn't CHANGE your credit, ffs.

/Heisenberg uncertainty credit
 
2017-09-14 12:12:04 PM  

rewind2846: People don't really like that so few corporations have so much control of our information and our financial lives.
They like it even less when the most important job these corporations have - keeping that controlling information safe - is the job they fark up the worst.
/burn Equifax, burn


img.fark.netView Full Size
 
2017-09-14 12:12:40 PM  

hi13760: Since the average investor has a memory of a gold fish, now is almost the time to buy their stock


Now is the time to buy. They've suffered reputation damage, but they've lost zero customers. Soon enough they'll sacrifice a scapegoat and the stock will be back to pre-hack levels.
 
2017-09-14 12:26:14 PM  

FortyHams: farking burn it to the ground.


Then drop napalm on the ashes, just to be sure.  and when that's done, throw the entire executive board in *actual* prison -- but not before freezing their assets and selling off everything they have to help cover the cost of this utter fark up.
 
2017-09-14 12:45:46 PM  
Hey, at least their C-Level guys were "lucky" enough to have gotten out before it went off the cliff.

On a related topic:  I know supposedly intelligent people who aren't going to freeze their credit. I don't know what to say to them.
 
2017-09-14 12:49:07 PM  
mojtv.hrView Full Size
 
2017-09-14 12:50:39 PM  

Mr. Eugenides: hi13760: Since the average investor has a memory of a gold fish, now is almost the time to buy their stock

Now is the time to buy. They've suffered reputation damage, but they've lost zero customers. Soon enough they'll sacrifice a scapegoat and the stock will be back to pre-hack levels.


I'm totally buying a bunch of shares soon.
They have a captive customer base, so they will recover. Should be able to make a few thousand on the rebound.

Now is not the time, after they get through the congress portion of this debacle will be the time to buy.
 
2017-09-14 12:54:22 PM  
What I find out about this is all the people signing up with them. As if something provided for free to over a hundred million people by the company that caused the issue in the first place would have any value to the consumer.
 
2017-09-14 01:19:44 PM  

mrsleep: Mr. Eugenides: hi13760: Since the average investor has a memory of a gold fish, now is almost the time to buy their stock

Now is the time to buy. They've suffered reputation damage, but they've lost zero customers. Soon enough they'll sacrifice a scapegoat and the stock will be back to pre-hack levels.

I'm totally buying a bunch of shares soon.
They have a captive customer base, so they will recover. Should be able to make a few thousand on the rebound.

Now is not the time, after they get through the congress portion of this debacle will be the time to buy.


They lost the records of 144 million people. Let's assume that just 25% decide to join what will be the largest class action lawsuit in history. Given that damages against most people will be in the thousands of dollars, if not hundreds of thousands for some, at settling for $1000 a person, you're talking 35 BILLION as a payout. There is ZERO way they survive this as a company without filing bankruptcy. None.
 
2017-09-14 01:47:19 PM  

Nick Nostril: Hey, at least their C-Level guys were "lucky" enough to have gotten out before it went off the cliff.

On a related topic:  I know supposedly intelligent people who aren't going to freeze their credit. I don't know what to say to them.


Good luck *trying* to get through and freeze your file with Equifax.  The company's system can't handle the influx of calls.
 
2017-09-14 01:48:46 PM  

jayphat: mrsleep: Mr. Eugenides: hi13760: Since the average investor has a memory of a gold fish, now is almost the time to buy their stock

Now is the time to buy. They've suffered reputation damage, but they've lost zero customers. Soon enough they'll sacrifice a scapegoat and the stock will be back to pre-hack levels.

I'm totally buying a bunch of shares soon.
They have a captive customer base, so they will recover. Should be able to make a few thousand on the rebound.

Now is not the time, after they get through the congress portion of this debacle will be the time to buy.

They lost the records of 144 million people. Let's assume that just 25% decide to join what will be the largest class action lawsuit in history. Given that damages against most people will be in the thousands of dollars, if not hundreds of thousands for some, at settling for $1000 a person, you're talking 35 BILLION as a payout. There is ZERO way they survive this as a company without filing bankruptcy. None.


They've got serious problems, but I think you've gotten carried away. Monetary damages for most people will be nothing. Many have credit info that isn't worth anything to themselves, and in most other cases damages usually become non-monetary. I'm not responsible for paying back a loan that someone else takes out in my name, though that may indirectly give me a lot of work to get it cleaned up, and get in the way of getting other loans that I actually want. A $1k per class member payout is, I think, wildly high.

But if you're sure, I'll sell you my settlement for $500 cash now. EIDW

FYI, I would love to see your scenario happen just like that, I just don't think it's realistic.
 
2017-09-14 02:16:45 PM  

OccamsWhiskers: They've got serious problems, but I think you've gotten carried away. Monetary damages for most people will be nothing. Many have credit info that isn't worth anything to themselves, and in most other cases damages usually become non-monetary. I'm not responsible for paying back a loan that someone else takes out in my name, though that may indirectly give me a lot of work to get it cleaned up, and get in the way of getting other loans that I actually want. A $1k per class member payout is, I think, wildly high.

But if you're sure, I'll sell you my settlement for $500 cash now. EIDW

FYI, I would love to see your scenario happen just like that, I just don't think it's realistic.


This isn't about people opening credit cards or loans.  Most of these will be used to file income taxes next year and since a lot of people can't file early as they have to wait they could be SOL as the scammers don't have to wait.
 
2017-09-14 02:18:35 PM  
Meh, we've seen this picture show before:

They'll get hit some token fine.

No one goes to jail.

Most of the lawsuits get throw out (because the law is so much in their favor).

They end up making a killing selling credit monitoring services to everyone they screwed.

Just look at how little has happened to Wells Fargo after committing massive fraud.
 
2017-09-14 03:16:44 PM  

snocone: ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.

This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry


I keep hearing this, but did they do anything illegal?

I always understood 'illegal insider trading' to be when you know information about a company before it is made public and you then share that information with someone else to act upon.  you are getting information from the inside, you are not the insider yourself.

CEO's and all can do the trading they want; whenever they want so long as it is made known; which happened in this case.  Is it an asshole thing to do and bad PR? sure.  But I don't see why the insiders of a company can't act however they want with nonpublic information.  It is their company after all.
 
2017-09-14 03:31:39 PM  

Hyjamon: snocone: ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.

This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry

I keep hearing this, but did they do anything illegal?

I always understood 'illegal insider trading' to be when you know information about a company before it is made public and you then share that information with someone else to act upon.  you are getting information from the inside, you are not the insider yourself.

CEO's and all can do the trading they want; whenever they want so long as it is made known; which happened in this case.  Is it an asshole thing to do and bad PR? sure.  But I don't see why the insiders of a company can't act however they want with nonpublic information.  It is their company after all.


No, it's illegal to trade on non-public information period. It doesn't matter if you're the CEO or a day trader with a buddy who works IT that read the CEO's email.
 
2017-09-14 03:52:02 PM  

max_pooper: Hyjamon: snocone: ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.

This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry

I keep hearing this, but did they do anything illegal?

I always understood 'illegal insider trading' to be when you know information about a company before it is made public and you then share that information with someone else to act upon.  you are getting information from the inside, you are not the insider yourself.

CEO's and all can do the trading they want; whenever they want so long as it is made known; which happened in this case.  Is it an asshole thing to do and bad PR? sure.  But I don't see why the insiders of a company can't act however they want with nonpublic information.  It is their company after all.

No, it's illegal to trade on non-public information period. It doesn't matter if you're the CEO or a day trader with a buddy who works IT that read the CEO's email.


so if a CEO decides on Monday that he will close a division on Friday; it would be illegal to sell OR buy any shares of his company on Tuesday, Wednesday or Thursday?

If we are talking about fraud or deception, sure throw the book. Yet, trading your own company given your own knowledge of what is happening is not allowed?  Even if he tells the SEC on Tuesday that he is selling ll of his shares, SEC posts that on Wednesday then the announcement comes on Friday?
 
2017-09-14 03:54:19 PM  
Right, passing the info on to someone else is just a popular way to try to get away with the crime. So I see three basic possibilities:

These C level farkers made unplanned sales because they knew this scandal would cost them, and are guilty of insider trading
These C level farkers made unplanned sales because they had no idea there was a vast scandal threatening the survival of the company. No crime, except for ripping off shareholders by drawing significant pay for what - not just letting others deal with the real issues of the company, but not even being AWARE of the biggest event the company's ever faced.
These C level farkers made unplanned sales despite knowing about the massive security breach, but sincerely believed it would have no material impact on the stock. Again, no crime, except for ripping off shareholders by drawing significant pay without understanding the obvious implications of such a security failure.

My point is: fark these assholes.
 
2017-09-14 04:17:04 PM  

Hyjamon: max_pooper: Hyjamon: snocone: ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.

This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry

I keep hearing this, but did they do anything illegal?

I always understood 'illegal insider trading' to be when you know information about a company before it is made public and you then share that information with someone else to act upon.  you are getting information from the inside, you are not the insider yourself.

CEO's and all can do the trading they want; whenever they want so long as it is made known; which happened in this case.  Is it an asshole thing to do and bad PR? sure.  But I don't see why the insiders of a company can't act however they want with nonpublic information.  It is their company after all.

No, it's illegal to trade on non-public information period. It doesn't matter if you're the CEO or a day trader with a buddy who works IT that read the CEO's email.

so if a CEO decides on Monday that he will close a division on Friday; it would be illegal to sell OR buy any shares of his company on Tuesday, Wednesday or Thursday?

If we are talking about fraud or deception, sure throw the book. Yet, trading your own company given your own knowledge of what is happening is not allowed?  Even if he tells the SEC on Tuesday that he is selling ll of his shares, SEC posts that on Wednesday then the announcement comes on Friday?


Yes, that is illegal. If anyone has knowledge of non-public information and they trade on that information it is illegal. In this case, it appears certain people at Equifax learned about the security breach. They then sold shares based that information before it was made public. That is illegal. Now if they had previously announced the stock sales before they leaned of the breach, they are in the clear but nothing I have read about the case indicates there were any previous announcements on these sales.
 
2017-09-14 04:48:42 PM  

max_pooper: Hyjamon: max_pooper: Hyjamon: snocone: ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.

This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry

I keep hearing this, but did they do anything illegal?

I always understood 'illegal insider trading' to be when you know information about a company before it is made public and you then share that information with someone else to act upon.  you are getting information from the inside, you are not the insider yourself.

CEO's and all can do the trading they want; whenever they want so long as it is made known; which happened in this case.  Is it an asshole thing to do and bad PR? sure.  But I don't see why the insiders of a company can't act however they want with nonpublic information.  It is their company after all.

No, it's illegal to trade on non-public information period. It doesn't matter if you're the CEO or a day trader with a buddy who works IT that read the CEO's email.

so if a CEO decides on Monday that he will close a division on Friday; it would be illegal to sell OR buy any shares of his company on Tuesday, Wednesday or Thursday?

If we are talking about fraud or deception, sure throw the book. Yet, trading your own company given your own knowledge of what is happening is not allowed?  Even if he tells the SEC on Tuesday that he is selling ll of his shares, SEC posts that on Wednesday then the announcement comes on Friday?

Yes, that is illegal. If anyone has knowledge of non-public information and they trade on that information it is illegal. In this case, it appears certain people at Equifax learned about the security breach. They then sold shares based that information before it was made public. That is illegal. Now if they had previously announced the stock sales before they leaned of the breach, they are in the clear but nothing I have read about the case indicates there were any previous announcements on these sales.


It has in fact been noted in their SEC filings this was not a pre-planned sale. They filed after the break, and the sale occurred before the breach was made public. Essentially, they're farked and gambling they can get their lawyers to put them in the clear.
 
2017-09-14 05:53:16 PM  

Hyjamon: so if a CEO decides on Monday that he will close a division on Friday; it would be illegal to sell OR buy any shares of his company on Tuesday, Wednesday or Thursday?


Public companies restrict when CEO's and other high level employees can sell their stock.  Limiting what times they can sell and typically must give advance notice and be approved.
 
2017-09-14 06:07:04 PM  

gingerjet: Hyjamon: so if a CEO decides on Monday that he will close a division on Friday; it would be illegal to sell OR buy any shares of his company on Tuesday, Wednesday or Thursday?

Public companies restrict when CEO's and other high level employees can sell their stock.  Limiting what times they can sell and typically must give advance notice and be approved.


welll, this sounds like one of those pesky regulations Trump should get rid of...
 
2017-09-14 06:12:16 PM  

max_pooper: Hyjamon: max_pooper: Hyjamon: snocone: ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.

This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry

I keep hearing this, but did they do anything illegal?

I always understood 'illegal insider trading' to be when you know information about a company before it is made public and you then share that information with someone else to act upon.  you are getting information from the inside, you are not the insider yourself.

CEO's and all can do the trading they want; whenever they want so long as it is made known; which happened in this case.  Is it an asshole thing to do and bad PR? sure.  But I don't see why the insiders of a company can't act however they want with nonpublic information.  It is their company after all.

No, it's illegal to trade on non-public information period. It doesn't matter if you're the CEO or a day trader with a buddy who works IT that read the CEO's email.

so if a CEO decides on Monday that he will close a division on Friday; it would be illegal to sell OR buy any shares of his company on Tuesday, Wednesday or Thursday?

If we are talking about fraud or deception, sure throw the book. Yet, trading your own company given your own knowledge of what is happening is not allowed?  Even if he tells the SEC on Tuesday that he is selling ll of his shares, SEC posts that on Wednesday then the announcement comes on Friday?

Yes, that is illegal. If anyone has knowledge of non-public information and they trade on that information it is illegal. In this case, it appears certain people at Equifax learned about the security breach. They then sold shares based that information before it was made public. That is illegal. ...


Not that it matters, but ditto/agree with everything max_pooper and JayPhat said.

If it is not public knowledge, it cannot be acted upon. If it is acted upon and is not public knowledge, it is insider trading. The SEC said their sales were not pre-planned. I looked at the time-frame of it and there is no possibility they did not know about the breach before they sold.
 
2017-09-14 07:20:49 PM  

jayphat: mrsleep: Mr. Eugenides: hi13760: Since the average investor has a memory of a gold fish, now is almost the time to buy their stock

Now is the time to buy. They've suffered reputation damage, but they've lost zero customers. Soon enough they'll sacrifice a scapegoat and the stock will be back to pre-hack levels.

I'm totally buying a bunch of shares soon.
They have a captive customer base, so they will recover. Should be able to make a few thousand on the rebound.

Now is not the time, after they get through the congress portion of this debacle will be the time to buy.

They lost the records of 144 million people. Let's assume that just 25% decide to join what will be the largest class action lawsuit in history. Given that damages against most people will be in the thousands of dollars, if not hundreds of thousands for some, at settling for $1000 a person, you're talking 35 BILLION as a payout. There is ZERO way they survive this as a company without filing bankruptcy. None.


Here He comes to save the day, it's BAILOUT!

It's kinda like a pardon done with taxpayer money. Happens all the time.
 
2017-09-14 11:12:01 PM  

Hyjamon: max_pooper: Hyjamon: snocone: ottebx: The C-level execs that sold before the breach became public knowledge need to be held accountable. They don't care about or think about jail. They need to have their money taken away. It is the only way they'll learn.

This is the problem with transparent fraud at the top of the food chain.
Every weenie thinks it is permission to steal w/o having "favored" status going in.

/never go in dry

I keep hearing this, but did they do anything illegal?

I always understood 'illegal insider trading' to be when you know information about a company before it is made public and you then share that information with someone else to act upon.  you are getting information from the inside, you are not the insider yourself.

CEO's and all can do the trading they want; whenever they want so long as it is made known; which happened in this case.  Is it an asshole thing to do and bad PR? sure.  But I don't see why the insiders of a company can't act however they want with nonpublic information.  It is their company after all.

No, it's illegal to trade on non-public information period. It doesn't matter if you're the CEO or a day trader with a buddy who works IT that read the CEO's email.

so if a CEO decides on Monday that he will close a division on Friday; it would be illegal to sell OR buy any shares of his company on Tuesday, Wednesday or Thursday?

If we are talking about fraud or deception, sure throw the book. Yet, trading your own company given your own knowledge of what is happening is not allowed?  Even if he tells the SEC on Tuesday that he is selling ll of his shares, SEC posts that on Wednesday then the announcement comes on Friday?


Absolutely illegal.
 
2017-09-15 11:15:48 AM  

PunGent: And someone CHECKING your credit shouldn't CHANGE your credit, ffs./Heisenberg uncertainty credit


Credit scores are built on actuarial tables.  People applying for credit are at increased risk for lateness and default in the near future after that application.  That's reflected in a small, temporary lowering of your score.  People who file many applications in a short time for various forms of credit see bigger dings.

Your credit can be passively checked without penalty (credit monitoring services).  I look at mine weekly, for example.  The ones that hit your overall scored are hard inquiries - intent to seek credit.
 
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