Even as T-Mobile (NASDAQ:TMUS) attempts to recover from its 2021 data breach incident, now there’s another one in the news. T-Mobile is trying to reassure its customers that the most sensitive data types weren’t accessed this time. However, there may still be reputational damage to the company, and TMUS stock fell into the red today.
As you may recall, a hacker stole the personal information of over 13 million active T-Mobile customers in 2021. Unfortunately, that data included Social Security numbers and driver’s license information.
T-Mobile settled a class-action lawsuit related to that data breach for $500 million. Still, the reputational impact lingers. Now, T-Mobile and its customers were hit with another security incident.
Yesterday, T-Mobile disclosed that a “hacker obtained data for 37 million customer accounts,” according to a Bloomberg report. The stolen data includes the customers’ names, addresses, emails and phone numbers. Plus, it includes their account numbers and plan details.
What’s Happening With TMUS Stock?
Even though the Nasdaq was up this morning, TMUS stock declined slightly as financial traders weighed the news of the data breach. As of 10:30 a.m. Eastern, shares were only slightly in the red for the day.
Perhaps the share-price damage was minimal because this data breach might not be as severe as the one in 2021. In the most recent incident, the customers’ credit cards, passwords and Social Security numbers reportedly weren’t accessed.
T-Mobile tried to reassure its customers, claiming the stolen info “is the type widely available in marketing databases or directories.” Plus, T-Mobile stated it has alerted law enforcement. Additionally, the company has started notifying the customers whose data may have been accessed.
So, today’s TMUS stock traders might be willing to forgive this security incident. Whether T-Mobile’s long-term investors and customers will overlook the second data breach in two years, is a different story entirely.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
