(Reuters) – Equifax Inc is reviewing its Chief Legal Officer John Kelly’s involvement in stock sales by company executives made weeks before the credit-reporting service disclosed a massive data breach, the Wall Street Journal reported on Sunday.
Three senior executives including the company’s chief financial officer sold $ 1.8 million in shares within three days of the company learning on July 29 that hackers had breached personal data for up to 143 million Americans.
Kelly had the responsibility for approving the share sales and is also central to broader questions facing the Equifax’s board because he is responsible for security at the company, the WSJ reported, citing people familiar with the matter. on.wsj.com/2fE8fAf
Kelley had broad responsibilities beyond legal services in his position at Equifax that differed from peers at rival credit-reporting companies, WSJ said.
Equifax was not immediately available for comment.
In a letter to the U.S. House of Representatives, made public on Friday, Equifax said its board of directors has formed a special committee to review the stock sales.
The data breach was disclosed publicly on Sept. 7 and has since sparked a public outcry, government investigations, a sharp drop in the company’s share price and a management shake-up.
Reporting by Ismail Shakil in Bengaluru; Editing by Sandra Maler
(Reuters) – Uber Technologies Inc [UBER.UL], which is the subject of a federal probe into whether it broke bribery laws, has started a review of its Asia operations and notified U.S. officials about payments made by staff in Indonesia, Bloomberg reported, citing people with knowledge of the matter.
A source familiar with the matter told Reuters that the Bloomberg report was accurate.
Uber said in August it was cooperating with a preliminary investigation led by the U.S. Department of Justice into whether company managers violated U.S. laws against bribery of foreign officials, specifically the Foreign Corrupt Practices Act.
Uber hired law firm O‘Melveny & Myers LLP to investigate how it obtained the medical records of an Indian woman who was raped by an Uber driver in 2014, Reuters reported in June.
O’Melveny & Myers is now examining records of foreign payments and interviewing employees, raising questions about why some potentially problematic business dealings were not disclosed sooner, Bloomberg said on Tuesday. bloom.bg/2xdk6PT
Attorneys are focused on suspicious activity in at least five Asian countries: China, India, Indonesia, Malaysia and South Korea, Bloomberg said, adding that Uber’s law firm is reviewing financial arrangements tied to the Malaysian government that may have influenced lawmakers there.
Uber and the DoJ could not immediately be reached for comment.
Reporting by Ismail Shakil in Bengaluru and Peter Henderson in San Francisco; Editing by Leslie Adler