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Morgan Stanley Hit with Class Lawsuit Over Alleged Data Breaches

Posted on August 1, 2020 by Dissent

Jed Horowitz reports:

Former and current Morgan Stanley customers have filed a putative class-action lawsuit alleging negligence and invasion of privacy over the firm’s failure to properly scrub decommissioned hardware of personal information such as social security numbers, account numbers and other personal data.

Morgan Stanley earlier this month began notifying brokers and customers that some client information remained on hardware from two data centers that were closed in 2016.

Filed Wednesday in federal district court in New York City’s second circuit, the lawsuit also says the wirehouse learned in 2019, and informed some state attorneys general this month, that computer servers replaced in some branches cannot be located and may have contained disks with unencrypted personal data.

Read more on AdvisorHub.

Related posts:

  • States settle with Morgan Stanley for $6.5 million over data security incidents
  • Morgan Stanley Fined Over Inadequate Security Tied to Galen Marsh Data Breach
  • Former Morgan Stanley adviser pleads guilty to stealing clients’ information
  • Morgan Stanley Fires Employee Accused of Stealing Client Data
Category: ExposureFinancial SectorLost or MissingU.S.

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2 thoughts on “Morgan Stanley Hit with Class Lawsuit Over Alleged Data Breaches”

  1. Lilly Holman says:
    August 6, 2020 at 8:03 am

    Can anyone be added to Lawsuit?

    1. Dissent says:
      August 6, 2020 at 8:18 am

      You’d have to contact the law firms representing plaintiffs to get yourself added, I think.

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