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T-Mobile agrees to pay $350 million to settle 2021 data-breach class action

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According to the Wall Street Journal, T-Mobile disclosed in an announcement that the company reached a settlement agreement with a class-action lawsuit related to a cyberattack that stole some user data in 2021.

T-Mobile agreed to pay $350 million to settle the claims of the class action plaintiffs and pay other related costs. It’s important to note that the settlement is still subject to court approval, and T-Mobile expects approval as soon as December of this year.

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Moreover, T-Mobile said that it will commit to investing another 150 million US dollars in data security and other related technologies.According to T-Mobile estimates, the second quarter will include about 400 million US dollars related to pre-tax expenses. T-Mobile said it had factored that spending and $150 million in data security spending into its previous guidance.
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