Sonic’s $5.7 Million Data Breach Settlement With Banks Approved

Sonic Corp. and a class of financial institutions received final approval from an Ohio federal judge on a $5.7 million class action settlement over a data breach that compromised the financial information of millions of the restaurant chain’s customers.

The agreement reached between “legally sophisticated parties on both sides” is fair, reasonable, and adequate compensation, wrote Judge James S. Gwin in an Oct. 17 order filed in the US District Court for the Northern District of Ohio.

Sonic faced proposed class actions from credit unions and banks over the 2017 hack, all alleging negligence after hackers accessed customer payment data ...