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On Friday, T-Mobile agreed to pay $350 million to customers affected by a class action lawsuit filed after the company disclosed that personal data like social security numbers had been stolen in a cyberattack last August.

In a Securities and Exchange Commission filing, the mobile phone company revealed the funds would pay for claims by class members, the legal fees of plaintiffs’ counsel, and the costs of administering the settlement.

The company also added that it would spend $150 million next year and in 2023 to fortify its data security and other technologies.

In a statement, T-Mobile said the settlement contains no admission of liability, wrongdoing, or responsibility by any of the defendants.

Moreover, the company expects court approval of the settlement terms as early as December 2022.

It can be recalled that almost 80 million U.S. residents were affected by the breach.

According to reports, in addition to Social Security numbers, other information breached included names and information from driver’s licenses or other identification.

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