According to documents submitted to the United States Securities and Exchange Commission, the amount agreed upon will be used to pay compensation to the plaintiffs, the plaintiffs’ legal expenses and the cost of implementing the settlement. The company itself stated that they will spend no less than 150 million additional dollars to improve information security.
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Close to 80 million Americans were affected by the cyber attack that the company suffered. In addition to the National Insurance numbers, additional information that was stolen included the names and data from driver’s licenses or other identification documents. T-Mobile is one of the largest cellular providers in the world. The company acquired rival Sprint in 2020 for $26.5 billion.
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