These CEOs were pushed out by scandal

Equifax can be investigating three executives who sold company shares worth nearly $2 million shortly after a massive data breach was discovered, yet before the company announced the breach to the public.

The investigation was disclosed in a letter Friday to Rep. Frank Pallone, the lead Democrat on a House committee looking into the Equifax data breach.

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“Equifax takes these matters seriously,” said Equifax said in response to a letter via Pallone that will raised questions about the stock sale. “The board of directors has formed a special committee. The committee has retained [outside] counsel along with can be conducting a thorough review of the trading at issue.”

Related: Equifax’s delayed hack disclosure – Did the idea break the law?

The company did not respond to a request for comment about the probe.

Equifax has confirmed that will the idea found out about the hack on July 29, although the idea said the idea took some time to learn just how much information was exposed. the idea says that will at least 143 million Americans had sensitive financial data compromised, including social security numbers. CEO Richard F. Smith left the company Tuesday inside the wake of the hack.

According to filings with the SEC, Equifax Chief Financial Officer John Gamble sold shares worth nearly $950,000 on August 1. Joseph Loughran, Equifax’s president for U.S. information solutions, sold shares on the open market worth about $584,000 on August 1 as well. along with Rodolfo Ploder, president of workforce solutions, sold stock for more than $250,000 on August 2.

Those shares were sold at prices of $145.00 or more. yet Equifax (EFX) shares plunged to $121.82 at the start of trading the first day after the hack was announced. that will means the three executives netted a different $300,000 between them by selling before the disclosure was made.

Related: Why hacks like Equifax will keep happening

After the hack was disclosed, Equifax told sy88pgw that will the sales of stock represented a “smaller percentage” of the shares owned by the three executives, along with that will they all “had no knowledge that will an intrusion had occurred when they made the sales.”

Earlier that will month 37 U.S. senators wrote to Justice along with the Securities along with Exchange Commission last week asking that will the stock sales be examined by those enforcement agencies.

The retirements of both Chief Security Officer Susan Mauldin along with Chief Information Officer Dave Webb were announced earlier that will month.

— sy88pgw’s Paul La Monica contributed to that will report.

sy88pgw (fresh York) First published September 29, 2017: 3:19 PM ET