$350 Million Settlement of T-Mobile Breach Lawsuits Proposed
Breach Notification
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Cybercrime
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Fraud Management & Cybercrime
On Top of Settling With Victims, Telecom Carrier Would Invest More in Security
A proposed $350 million settlement to resolve a consolidated class action lawsuit against the U.S. telecom carrier T-Mobile, after a 2021 data breach that affected nearly 77 million people, includes breach victims and related legal costs.
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Under the settlement, T-Mobile is required to invest an additional $150 million to bolster its data security and related technology in 2022 and 2023, according to the settlement described in an SEC filing.
Terms of Settlement
The proposed agreement, which was filed in federal court in Missouri on Friday, would settle a class action lawsuit that consolidated more than 40 lawsuits filed after the data breach was revealed in August 2021 by the U.S. telecom carrier.
It awaits court approval that is “expected as early as December 2022 but could be delayed by appeals or other proceedings,” the filing says.
The telecom carrier says it denies all the allegations made in the complaints filed against them, especially those that describe T-Mobile’s failure to protect customer data, and states that the settlement is not an admission of “liability, wrongdoing or responsibility.”
“T-Mobile denies all material allegations of the Amended Complaint and specifically…
