T-Mobile to Pay $350 Million to Victims of 2021 Data Leak

T-Mobile US Inc. proposed paying a group of victims $350 million to settle a class-action lawsuit brought by victims of a 2021 hack of sensitive customer information.

The cellphone carrier said in a securities filing Friday that its proposed settlement would pay for claims from class members, legal fees and administrative costs. The company pledged to spend $150 million for security technology in 2022 and 2023.