T-Mobile settles to pay customers $350 million in data breach

T-Mobile on Friday agreed to pay $350 million to customers affected by a class action lawsuit that was filed after the company revealed last August that personal data such as Social Security numbers had been stolen in a cyberattack. (Alan Diaz, AP Photo)

Estimated reading time: 1-2 minutes

NEW YORK – T-Mobile has agreed to pay $350 million to customers affected by a class action lawsuit after the company revealed last August that Personal Data Like Social Security numbers stolen in a cyberattack.

In the Securities and Exchange Commission Deposit on Friday, the mobile phone company said the money will pay for claims by class members, legal fees for plaintiffs’ attorneys and settlement administration costs. It also said it will spend $150 million next year and in 2023 to strengthen data security and other technologies.

T-Mobile said the settlement does not contain an admission of liability, wrongdoing, or liability by any of the defendants.

The company said it expects court to approve the terms of the settlement in December 2022.

Nearly 80 million residents of the United States have been affected by the violation. In addition to Social Security numbers, other information that was breached included names and information from driver’s licenses or other identification.

T-Mobile, headquartered in Bellevue, Washington, has become one of the largest mobile service companies in the country, along with AT&T and Verizon, after acquiring rival Sprint in 2020. It was reported to have a total of 102.1 million US customers after the merger.

T-Mobile said it expects to post a total pre-tax fee of about $400 million in the second quarter of this year.


Related stories

Latest Business and Technology Stories

More stories you might be interested in

See also  Tesla made misleading claims about it

Leave a Reply

Your email address will not be published.