Insider trading charges were announced Wednesday against a former Equifax executive who sold his shares for nearly $1 million before the company’s massive data breach was revealed to the public on Sept. 7 and the stock price plunged.
A federal grand jury on Tuesday indicted Jun Ying, 42, former chief information officer of Equifax’s U.S. Information Solutions. The Securities and Exchange Commission on Wednesday also charged Ying with insider trading.
In an emailed statement, lawyers representing Ying, declined to comment.
The SEC and U.S. Attorney’s Office in Atlanta said federal investigations are ongoing. Ying is the only former Equifax executive named in Tuesday’s indictment.
A total of about 147.9 million Americans have been impacted by Equifax’s data breach, which remains the largest exposure of personal information in history.