Description: And if the Equifax breach wasn’t bad enough, this past week we found out what a terrible job Equifax did in handling the crisis. First, we learned the company waited six weeks to tell us about the breach, leaving consumers uninformed their data was in peril. Second, we now know at least three Equifax executives dumped shares a few days after the breach, well before the business press and analysts knew enough to punish the company’s share price. Ed Zitron of media company EZPR was quoted in the CNN piece as saying “All they’ve done is terrify people more.”
Date: September 13, 2017
1) What does this additional information on the Equifax breach say to you? What is your opinion on the company’s response?
2) Why do you think Equifax executives sold their shares within a few days of the crash? Do you regard this as ethical?
3) Watch the brief video on how some companies have done a very bad job handling a crisis. Why do you think these bad choices occur?