Equifax failed to patch security vulnerability in March: former CEO

Equifax Inc (EFX.N) was alerted in March to the software security vulnerability that led to hackers obtaining personal information of more than 140 million Americans but took months to patch it, its former CEO said in testimony to be delivered to Congress on Tuesday.

“It appears that the breach occurred because of both human error and technology failures,” former CEO Richard Smith said in written testimony released on Monday by the Energy and Commerce Committee.

Separately, Equifax said late Monday that an outside review determined about 2.5 million additional U.S. consumers were potentially impacted, for a revised total of 145.5 million. read more »

Trinity wins reversal of $663 million U.S. judgment over guardrails

A federal appeals court on Friday overturned a $663.4 million judgment against Trinity Industries Inc, which had been accused of misleading the government by selling highway guardrails that could impale vehicles.

The 5th U.S. Circuit Court of Appeals in New Orleans said a jury’s 2014 finding that Trinity had defrauded the government could not stand, and that the Dallas-based company was entitled to prevail as a matter of law.

Trinity shares rose $2.88, or 9 percent, to $34.78 in after-hours trading, following the decision by a unanimous three-judge panel.

The whistleblower case had been brought by Joshua Harman, a competitor who accused Trinity of failing to tell the government about a design change it made in 2005 to its ET-Plus guardrails that could cause vehicles to be speared when struck, potentially causing severe injury or death to occupants. read more »

Earthquake Researcher Found Guilty of Taking $1M in Bribes From Seismological Companies

In exchange for the bribes, he gave seismological companies inside information on open contracts

The former head of South Korea's earthquake research center was sentenced Monday to 14 months behind bars for laundering more than $1 million in bribes from two seismological companies, including one based in Pasadena, that paid him in exchange for insider information. read more »