Question

Briefly present, summarize, and comment on a recent U.S. stock market insider trading investigation.

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Answer 1

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Us Stock Market Insider Trading Investigation

Recently Equifax officials were under investigations by the US justice Department for selling stock before the company disclosed a data breach that revealed to the public personal data about many Americans. Bloomberg who was reporting about the investigation claimed that the US justice department was carrying investigations to identify if the top offocials of Equifax violated insider trading laws when they went ahead and sold Equifax shares before they made the public know about the hack. The US djustice department investigated Equifax CFO by the name John Gamble,Joseph Loughran who is the president of information solutions in the US and Rodolfo Ploder the president of solutions of workforce. After the company learnt that there was a breach the three executives of the company dumped stock worth 2 million dollar. Shares of Equifax went down by almost 35 % because of the hack.

I think that the investigations were necessary because it was wrong if the officials started selling the company's stock before disclosing to the public about the hack. If the investigation finds the officials were aware of the hack before selling the stock, they should be punished according to the law

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