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T-Mobile will pay out $350M to customers in data breach settlement

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If you were one of the nearly 77 million people affected by last year’s T-Mobile breach, you may have a few bucks coming your way. The company has just announced the terms of a settlement in a consolidated class action lawsuit, and it isn’t cheap: $350 million to be split up by customers (and lawyers), plus $150 million “for data security and related technology.” Let this be a lesson to all companies: If you stay ready, you don’t have to spend $150 million to get ready!
The breach apparently occurred sometime early last year, after which collections of T-Mobile customer data were put up for sale on various criminal forums. Estimates of how many people were affected varied, with T-Mobile claiming less than a million had accoun …

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