After admitting in August that sensitive information like social security numbers had been taken in a hack, T-Mobile has agreed to pay USD 350 million to customers impacted by a class action lawsuit.
The company stated in a filing with the Securities and Exchange Commission on Friday that the money will be used to cover class member claims, plaintiffs’ counsel’s legal costs, and settlement administration expenses. Additionally, it stated that it would invest USD 150 million in 2023 and the next year to strengthen other technologies and data protection.
According to T-Mobile, none of the defendants have admitted guilt, wrongdoing, or blame in the settlement. The business stated that it anticipates having the terms of the settlement approved by the court as early as December 2022.