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Reading: In A Data Breach Lawsuit, T-mobile Has Agreed To Pay $350 Million To Its Customers
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The Tech Education > Blog > News > In A Data Breach Lawsuit, T-mobile Has Agreed To Pay $350 Million To Its Customers
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In A Data Breach Lawsuit, T-mobile Has Agreed To Pay $350 Million To Its Customers

Shreya Jain
By Shreya Jain 8 months ago
T mobile Has Agreed To Pay 350 M update
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After admitting last August that sensitive information like social security numbers had been stolen in a cyberattack, T-Mobile has agreed to pay $350 million to customers impacted by a class action lawsuit.

The mobile phone company stated in a filing with the Securities and Exchange Commission on Friday that the money would be used to cover class member claims, plaintiffs’ counsel’s legal costs, and settlement administration expenses. Additionally, it stated that it would invest $150 million in 2023 and the following year to strengthen other technologies and data security.

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According to T-Mobile, none of the defendants have admitted guilt, wrongdoing, or responsibility in the settlement.

T-mobile Has Agreed To Pay $350 M

The business stated that it anticipates having the terms of the settlement approved by the court as early as December 2022.

The breach had an impact on almost 80 million Americans. Names and data from licenses or other forms of identification were also compromised, in addition to Social Security numbers.

After acquiring rival Sprint in 2020, Bellevue, Washington-based T-Mobile joined AT&T and Verizon as one of the nation’s largest providers of mobile services. Following the merger, it reported having a total of 102.1 million US clients.

T-Mobile stated that it anticipates recording a total pre-tax charge in the second quarter of this year of about $400 million.

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By Shreya Jain
Published Author and a versatile Content Writer with an experience of over 3 years in different niches like health, travel, software, fashion, lifestyle, and wellness with compelling story-telling and narration skills. I help businesses to create their distinctive identity in the industry using various marketing & SEO strategies to help them grow as a brand. I write well-researched articles, blog posts, social media descriptions, and website content to extend the reach of a company through highly impactful & cutting-edge content.
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