SONIC INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Sonic Corp. - (SONC)
NEW ORLEANS, Oct. 13, 2017 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Sonic Corp. (NasdaqGS: SONC).
On September 26, 2017, Cyber security blog KreretbsOnSecurity reported that a data breach in the Company's payment systems had occurred, which it concluded after investigating reports of "a recent pattern of fraudulent transactions on cards that had all previously been used at Sonic" as well as researching an internet cache of "credit and debit card accounts that were first put up for sale on Sept. 18 in [an online] credit card theft bazaar…." That same day, the Company confirmed the breach and that "[o]ur credit card processor informed us last week of unusual activity regarding credit cards used at Sonic," which it was investigating.
Thereafter, a consumer class action lawsuit was filed against the Company based on, among other things, its failure to adequately protect its data systems and detect and report the breach in a timely manner.
KSF's investigation is focusing on whether Sonic's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Sonic shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC
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