"T-Mobile Settles to Pay $350M to Customers in Data Breach"

In a class action lawsuit, T- Mobile agreed to pay $350 million to customers affected by a cyberattack disclosed last August. Personal data like social security numbers were stolen during the cyberattack. In a Securities and Exchange Commission filing on Friday, T-Mobile said the funds would pay for claims by class members, the legal fees of plaintiffs’ counsel, and the costs of administering the settlement. The company also said it would spend $150 million next year and in 2023 to fortify its data security and other technologies. The company said it expects court approval of the settlement terms as early as December 2022. During the breach, nearly 80 million U.S. residents were affected. In addition to Social Security numbers, other information breached included names and information from driver’s licenses or other identification.

SecurityWeek reports: "T-Mobile Settles to Pay $350M to Customers in Data Breach"