T-Mobile settles to pay $350M to customers in data breach

By ANNE D’INNOCENZIO
AP Business Writer

NEW YORK (AP) — T- Mobile has agreed to pay $350 million to customers affected by a class action lawsuit filed after the company disclosed last August that personal data had been stolen in a cyberattack. In a securities filing on Friday, the mobile phone company said the funds would pay for claims by class members, the legal fees of plaintiffs’ counsel and the costs of administering the settlement. It also said it would spend $150 million next year and in 2023 to fortify its data security. T-Mobile said the settlement contains no admission of liability, wrongdoing or responsibility by any of the defendants. Nearly 80 million U.S. residents were affected by the breach.