T-Mobile US has agreed to a $350 million settlement in a class action lawsuit over a 2021 security breach at the company that was the its largest ever and resulted in the data of tens of millions of current, former and prospective customers being compromised.
As part of the settlement, the network operator also committed to spending an additional $150 million on data security through 2023, bringing the total settlement-related spending to $500 million.
The proposed class action settlement “contains no admission of liability, wrongdoing or responsibility,” according to a company filing with the Securities and Exchange Commission. It could be approved as soon as December 2022.
