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Equifax securities fraud class action [pdf]

securities.stanford.edu

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Re: Equifax securities fraud class action [pdf]

#191

Post by magashna »

oneepic wrote: post #139
RankingMember wrote: post #69

> On August 2, 2017, Equifax notified the FBI of the Data Breach. It also retained legal counsel to guide its investigation into the breach. The same day, Equifax’s legal counsel retained Mandiant to assist in the investigation into the incident. Experts would later note that these steps suggested that Equifax knew that the Data Breach was serious. In the days immediately following the discovery of the Data Breach, G…

I'm confused why they didn't get prosecuted (at least not yet). The CIO actually got fined and sent to prison for insider trading: https://www.justice.gov/usao-ndga/pr/former-equifax-employee...

Of course the IT guy goes down while the CFO runs out the back door with a fistful of dollars.

Re: Equifax securities fraud class action [pdf]

#192

Post by Akinato »

kjaftaedi wrote: post #122
RankingMember wrote: post #69

> On August 2, 2017, Equifax notified the FBI of the Data Breach. It also retained legal counsel to guide its investigation into the breach. The same day, Equifax’s legal counsel retained Mandiant to assist in the investigation into the incident. Experts would later note that these steps suggested that Equifax knew that the Data Breach was serious. In the days immediately following the discovery of the Data Breach, G…

It's sad how obvious this is. Possibly even more obvious than the insider trading at intel prior to the spectre/meltdown public release. This will be forever the legacy of Eric Holder, the man who changed the justice department policy to go after smaller 'fines' as settlements instead of prosecuting crimes.. only because of the simple fact that fines are easy to win, and criminal cases can be lost. Justice is now esc…

People that are so rich/connected that they can become "too difficult to pursue" seems like a good step towards becoming Gotham.

Re: Equifax securities fraud class action [pdf]

#195

Post by sp332 »

joshstrange wrote: post #84

Scrolling through the comments I'm surprised (and not all at the same time) no one has made a comment like this: So what? If an attacker is able to reach your DB the ballgame at 90% of the way over already. Yes I understand that a strong U/P on the DB server would be 1 final gate but unless I'm living in some alternative reality I can tell you plenty of companies use weak/shared/guessable passwords for stuff that sho…

This is about liability. If you're not doing even the most basic things to protect other people's private data, then you can be held accountable for damages when the data is stolen.

Re: Equifax securities fraud class action [pdf]

#196

Post by peterwwillis »

Akirus wrote: post #148
peterwwillis wrote: post #91

If all software automatically changed its own admin password after 121 days, and refused to set old passwords (store the last 5 salted hash), that might be a good enough stick to force people to rotate passwords themselves, and default passwords would go away.

And users rotate their same "password1", "password2", "password3" passwords every expiration period...

Yeah but you can't do anything about that unless you also enforce complexity. If the goal is to prevent defaults (ex. to prevent drive-bys), the above does that; "good" passwords is a separate requirement.

Re: Equifax securities fraud class action [pdf]

#197

Post by geggam »

Akinato wrote: post #192
kjaftaedi wrote: post #122

Earlier quoted context omitted.

It's sad how obvious this is. Possibly even more obvious than the insider trading at intel prior to the spectre/meltdown public release. This will be forever the legacy of Eric Holder, the man who changed the justice department policy to go after smaller 'fines' as settlements instead of prosecuting crimes.. only because of the simple fact that fines are easy to win, and criminal cases can be lost. Justice is now esc…

People that are so rich/connected that they can become "too difficult to pursue" seems like a good step towards becoming Gotham.

When you reach a critical mass of people with nothing to lose the wealth will balance again, usually through violence.

Re: Equifax securities fraud class action [pdf]

#199

Post by scarejunba »

jagged-chisel wrote: post #111
steveklabnik wrote: post #107

Earlier quoted context omitted.

From the parent: > These sales were not made pursuant to a Rule 10b5–1 trading plan.

"pre-arranged" != "Rue 10b5-1 trading plan" I'm not an expert in stock trading, but this logic seems very plausible. A Plan does not preclude other arrangements to sell shares

The purpose of that trading plan is precisely to allow you to have arrangements to sell shares as an insider. So if he was pre-arranging legally, this is how he'd do it.

You don't have to be an expert. Practically everyone who isn't rank-and-file gets the dossiers on this nonsense in a public company.

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