Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Cloud

6/29/2018
11:15 AM
50%
50%

Equifax Software Manager Charged with Insider Trading

Sudhakar Reddy Bonthu used insider information about the company's 2017 data breach to profit in stock transaction.

Fallout from the epic Equifax data breach just keeps coming: A second employee of the credit-monitoring firm has been charged with insider trading in connection with the attack.

Former Equifax software development manager Sudhakar Reddy Bonthu, 44, was arraigned in US District Court in Atlanta this week. Bonthu allegedly using his inside knowledge of the 2017 data breach before it was made public and purchased so-called "put" stock options that allowed him to earn more than $75,000 in profit when the announcement was made and Equifax's stock dropped.

Equifax's former chief information officer, Jun Ying, earlier this year pleaded not guilty to charges of insider trading related to the data breach.

Read more here

 

Black Hat USA returns to Las Vegas with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions and service providers in the Business Hall. Click for information on the conference and to register.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
<<   <   Page 2 / 2
RyanSepe
50%
50%
RyanSepe,
User Rank: Ninja
6/29/2018 | 2:00:27 PM
Best Practice?
Can someone explain to me what is best practice in these scenarios? I find it somewhat confusing. If someone inadvertently told you that your investments were going to plummet unless you dropped them due to an event with the company are you suppose to just steer your boat into the iceberg? 

This is a cynical representation of it of course but seriously I can't fathom being in that position and would like someone who is better versed legally to shed some light on the matter.
RyanSepe
50%
50%
RyanSepe,
User Rank: Ninja
6/29/2018 | 1:55:02 PM
Not Surprising
This is not surprising to me in the least. I would be surprised however if it was to be the last person charged in light of the Equifax breach.
<<   <   Page 2 / 2
MoviePass Leaves Credit Card Numbers, Personal Data Exposed Online
Kelly Sheridan, Staff Editor, Dark Reading,  8/21/2019
New FISMA Report Shows Progress, Gaps in Federal Cybersecurity
Curtis Franklin Jr., Senior Editor at Dark Reading,  8/21/2019
Aviation Faces Increasing Cybersecurity Scrutiny
Kelly Jackson Higgins, Executive Editor at Dark Reading,  8/22/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
7 Threats & Disruptive Forces Changing the Face of Cybersecurity
This Dark Reading Tech Digest gives an in-depth look at the biggest emerging threats and disruptive forces that are changing the face of cybersecurity today.
Flash Poll
The State of IT Operations and Cybersecurity Operations
The State of IT Operations and Cybersecurity Operations
Your enterprise's cyber risk may depend upon the relationship between the IT team and the security team. Heres some insight on what's working and what isn't in the data center.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-15482
PUBLISHED: 2019-08-23
selectize-plugin-a11y before 1.1.0 has XSS via the msg field.
CVE-2019-15483
PUBLISHED: 2019-08-23
Bolt before 3.6.10 has XSS via a title that is mishandled in the system log.
CVE-2019-15484
PUBLISHED: 2019-08-23
Bolt before 3.6.10 has XSS via an image's alt or title field.
CVE-2019-15485
PUBLISHED: 2019-08-23
Bolt before 3.6.10 has XSS via createFolder or createFile in Controller/Async/FilesystemManager.php.
CVE-2019-15486
PUBLISHED: 2019-08-23
django-js-reverse (aka Django JS Reverse) before 0.9.1 has XSS via js_reverse_inline.