T-Mobile has agreed to a settlement totaling $500 million in a class-action lawsuit brought by customers after the company It was revealed in August That sensitive data was compromised in a cyber attack.
In a lawsuit late Friday, the mobile phone giant said it will pay $350 million to settle customer claims and spend $150 million over the next few years to strengthen cybersecurity protections and technologies.
The company said the breach affected 76.6 million people in the United States. It exposed highly sensitive data, including customers’ first and last names, social security numbers, and driver’s license information.
It wasn’t clear how much individual T-Mobile customers would get from the settlement, though the proposed agreement, filed in US District Court for the Western District of Missouri, states that individual payments cannot exceed $2,500.
At the time of the hack, T-Mobile said the hacked files included checking accounts as well as records of people who applied for credit from the company.
T-Mobile’s lawyers said in Friday’s filing that the settlement agreement does not mean the company admits any wrongdoing. The hack was one of many that have occurred in the technology, banking and retail industries in recent years.
“As we continue to invest time, energy and resources in meeting this challenge, we are pleased to have resolved the consumer class action file,” the company said in a statement.
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