PharMerica Will Pay at Least $5.2M to Settle Hack Lawsuit
Summary
PharMerica will pay at least $5.27 million as part of a preliminary class action settlement for a 2023 data theft incident affecting 5.8 million individuals; the company must also enhance its security measures.
Why It Matters for Texas Credit Unions
Relevant as it highlights the importance of robust cybersecurity practices and potential financial penalties for data breaches, which are applicable to Texas credit unions.
Original Source Material
Ransomware Gang Money Message Claimed It Exfiltrated 4.7TB of Firm's Data Pharmacy services firm PharMerica will pay at least $5.27 million - plus millions more on enhancing its security - as part of a preliminary class action settlement approved this week by a federal court involving a 2023 data theft incident the company reported as affecting 5.8 million individuals.