T-Mobile US Inc agreed on Friday to pay $350 million and spend an additional $150 million to upgrade data security to settle litigation over a cyberattack last year that compromised information belonging to an estimated 76.6 million people.It requires a judge's approval, which the second-largest U.S. wireless carrier said could come by December.
The Bellevue, Washington-based company expects an approximately $400 million pre-tax charge in this year's second quarter for the settlement. It said it contemplated the charge and $150 million of spending in prior financial guidance. The number soon grew past 50 million, and T-Mobile said in November its investigation uncovered an additional 26 million people whose personal information was accessed.
Friday's settlement covered nationwide litigation combining at least 44 proposed class-action lawsuits.