At the Securities and Exchange Commission filed on Friday, the mobile operator said the funds would pay for claims by class members, the legal costs of plaintiffs’ lawyers, and the costs of managing the settlement. He said he would spend $ 150 million next year and 2023 to enhance data security and other technologies.
T-Mobile said the settlement did not include recognition of liability, misconduct, or liability by any of the defendants.
The company said 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 the Social Security number, other information that was violated included information from a name, driver’s license, or other identification card.
Bellevue, Washington-based T-Mobile, along with AT & T and Verizon, has become one of the country’s largest mobile operator after the acquisition of rival Sprint in 2020. After the merger, the total number of customers in the United States was 102.1 million.
T-Mobile said it plans to record a total pre-tax expense of approximately $ 400 million in the second quarter of this year.
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Cyber Attack: T-Mobile has decided to pay $ 350 million to customers whose personal information has been stolen
Source link Cyber Attack: T-Mobile has decided to pay $ 350 million to customers whose personal information has been stolen