A federal judge has approved $59 million in legal fees for lawyers who negotiated $177 million in class action settlements with AT&T over data breaches in 2024 that exposed the personal information of tens of millions of customers.
https://www.reuters.com/legal/government/plaintiffs-lawyers-att-class-actions-win-59-million-legal-fee-award-2026-10-05/
Plaintiffs - $5.90
really wondered if they “budgeted”/forecasted for this? Probably not and it will be the “Stankey Standard” meaning:
He has to be the most loathed CEO of all time.
Will this be the straw that broke the camels back?
Baich needs to write a new book as a followup to his "winning" one called "Breaches are in my DNA" or "How to blame everyone else"
What exec is most pointed at/held responsible for this? Was it Sambar bc he’s gone now…at TMo & I know they left him “holding the bag”
for a major outage but not sure who the Stink will mostly blame for this breach.
$177 million is far less that what AT&T saved by farming out database security to Hyderabad. The C suite still views this as revenue positive.
@a4 , like ol’ Buddy Holly sang “That’ll Be The Day”.
I wonder if leadership will forego any bonuses to offset this....
That will surely be “passed along” & absorbed with even further layoffs.