We have to hand it to CHOICEPOINT. The company spent years buying information on virtually every American while assuring privacy advocates that the information was safe. Yet all it took was a Nigerian crook posing as a legit business to compromise information on 145,000 Americans. Did ChoicePoint offer a full accounting of the scandal? Yeah, right! The company waited months before fessing up to a security breach. Then, when CEO Derek Smith finally talked, he said, We didnt expect organized criminals would attack us with this sophistication. Derek, they used a fax machine! ChoicePoint shares tumbled, but before the scandal went public, Smith managed to sell thousands of shares, netting $13 million.
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