Wall Street and Alexandria Ocasio-Cortez are on the same side for once — they’re piling skepticism onto credit-ratings firm Equifax

Wall Street and Alexandria Ocasio-Cortez are on the same side for once — they’re piling skepticism onto credit-ratings firm Equifax

11th February 20190Byadmin

Short sellers are piling into bets against Equifax, one of the US’s largest credit agencies, after class action lawsuits and criticism by Alexandria Ocasio-Cortez heightens focus on what the New York Democrat calls a “dice game.”

Part of motivation on part of short sellers may be relating to class action lawsuits resulting from a 2017 Equifax data breach, one of the largest in US history.

Bearish hedge funds have built up a $600 million short position in Equifax, according to data from IHS Markit. That’s the highest amount since September 2017, when Equifax announced a data breach that could have jeopardized sensitive information from 143 million customers.

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