T- Mobile agreed to pay $350 million to customers affected by a class action lawsuit filed after the company disclosed last August that personal data like social security numbers had been stolen in a cyberattack.
In a Securities and Exchange Commission filing, the mobile phone company said the funds would pay for claims by class members, the legal fees of plaintiffs’ counsel, and the costs of http://www.staging.businesstoday.me/wp-content/uploads/2022/12/sample10.jpgistering the settlement.
It also said it would spend $150 million next year and in 2023 to fortify its data security and other technologies.
T-Mobile said the settlement contains no admission of liability, wrongdoing, or responsibility by any of the defendants.
The company said that it expects court approval of the terms of the settlement as early as December 2022.
Nearly 80 million US residents were affected by the breach. In addition to Social Security numbers, other information breached included names and information from driver’s licenses or other identification.
