Morgan Stanley asks court to throw out data security lawsuit

Ryan W. Neal reports:

Morgan Stanley has asked a New York federal court to throw out a class action lawsuit alleging the firm failed to properly wipe sensitive client information from decommissioned computer equipment that has since gone missing.

The former clients cannot plausibly identify instances of personal data being accessed or misused, or any other injury, that give the case standing, according to a statement filed Monday by Morgan Stanley. The bank asked for the case, which started in August, 2020, with a pair of lawsuits and has since grown to nearly a dozen named plaintiffs, to be dismissed in its entirety and with prejudice.

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