T-Mobile to pay $350m in settlement

NEW YORK:

T-Mobile US Inc agreed on Friday to pay $350 million and spend an additional $150 million to upgrade data security to settle litigation over a cyberattack last year that compromised information belonging to an estimated 76.6 million people. The preliminary settlement was filed with the federal court in Kansas City, Missouri. It requires a judge’s approval, which the second-largest US wireless carrier said could come by December. T-Mobile denied wrongdoing, specifically, including accusations that it breached its duties to protect customers’ personal information and had inadequate data security. The Bellevue, Washington-based company expects an approximately $400 million pre-tax charge in this year’s second quarter for the settlement. It said it contemplated the charge and $150 million of spending in prior financial guidance. T-Mobile disclosed the data breach last August, saying at the time it affected more than 47 million current, former and prospective customers.

Published in The Express Tribune, July 24^th, 2022.

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