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Unenviable position for Equifax: Info-breach lawsuits mounting

Equifax executives are unquestionably sweating.

And that they are is flatly understandable, given -- as noted in one national media piece -- the credit reporting entity's "disclosure of a cyberbreach that compromised personal data for nearly half the nation's population."

It's kind of hard to hide under a rock following negligence of that magnitude.

Instead, Equifax executives are gearing for an onslaught of litigation that is coming their way in a potentially historic manner. The confidential financial information of scores of millions of credit-card holders has been hacked, and legions of those consumers want to take Equifax to court for a judicial spanking.

In litigation of the size at stake concerning the Equifax cyberbreach, class action filings will surface, as they already are across the country.

The above-noted USA Today article cites the threshold proof requirement of harm that any plaintiff consumer must show to pursue a damage claim. Although the publication reports that "relatively few plaintiffs" have stepped forward thus far with proofs supporting personal victimization from identity theft or other criminal activity, that status quo is likely to be fleeting and destined to change in a big way.

One reason why, notes USA Today, is the certainty that cyber thieves will soon begin "to make broader use of the stolen data." Another is that "relatively few" litigants can still spell thousands -- or even millions -- concerning a hack that has allegedly pilfered data from approximately 143 million records.

Reportedly, hackers gained access to internal Equifax data as early as March of this year.

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