T-Mobile prepares $350 million payments for data breach settlement

The report outlines the 2021 T-Mobile data breach affecting 76 million customers, exposing PII such as names, addresses, and Social Security numbers, and details the subsequent $350 million class-action settlement in 2022. The settlement covers cash payments for out-of-pocket losses and lost time, general compensation, and identity defense and restoration services, underscoring the significant impact of large-scale data breaches and the need for robust remediation.