One day after the news that Sonic was hit with a data breach, and the same day the company confirmed the rumors, the first lawsuit hit.
Federman & Sherwood filed a lawsuit against Sonic Corp. (NASDAQ:SONC) for what we now know was a massive credit card data loss. Other lawsuits appear to be on the horizon.
Upwards of 5 million credit card numbers were stolen and are now for sale on the dark web.
Small and medium-sized businesses should be alarmed at recent developments. Not only are data breaches becoming commonplace - and those are only the big ones that you hear about - but lawsuits filed by consumers are now the norm as well.
If you are a business owner of ANY size and you are not preparing for and mitigating the risk of a data breach today, you are putting your business in jeopardy. Every business has valuable data that hackers want. And even if you are luck enough to escape the wrath of regulators when your data is breached, you can be certain that your customers will not be forgiving. Loyalty is fleeting.
Read up on how the legal landscape is changing at the federal level based on the Attias v CareFirst decision.