Morgan Stanley to pay $60 million to settle data breach lawsuit
JURIST
JANUARY 3, 2022
On Friday, Morgan Stanley agreed to pay $60 million as a preliminary settlement of a class action lawsuit brought against it for allegedly failing to secure customers’ personal data before retiring old information technology, Reuters reported. The settlement offer awaits the approval of New York District Judge Analisa Torres. . The lawsuit was filed on behalf of roughly 15 million Morgan Stanley customers pursuant to two incidents that occurred in 2016 and 2019 respectively.
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