T- Mobile has agreed to pay $350 million to customers affected by a class action lawsuit filed after the company disclosed last year that personal data had been stolen in a cyberattack.
In a Securities and Exchange Commission filing, 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. T-Mobile also said it would spend $150 million in 2023 to fortify its data security and other technologies.
Nearly 80 million U.S. residents were affected by the breach. In addition to Social Security numbers, other information breached included names and information from driver’s licenses or other identification.
So, how much could each person receive?
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The website classaction.org stated while there are no guarantees, those who sign up could be entitled to hundreds of dollars. According to a filing in U.S. District Court for the Western District of Missouri, the payment to each customer can't exceed $2,500.
However, others contend the actual amount for each person may be substantially less. Each customer could receive as little as $5-10, according to multiple online estimates.
T-Mobile previously said it expects court approval of the terms of the settlement as early as December 2022. Payment distribution could begin after that.
"As we continue to invest time, energy and resources in addressing this challenge, we are pleased to have resolved this consumer class-action filing," the company said in a statement on its website.
T-Mobile has begun sending communications to those affected by the breach, according to a post on classaction.org
Anyone who believes they are eligible for a payout can find additional information on how to join the lawsuit here.