Morgan Stanley Hit with Class Lawsuit Over Alleged Data Breaches

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.

About the author: Dissent

2 comments to “Morgan Stanley Hit with Class Lawsuit Over Alleged Data Breaches”

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  1. Lilly Holman - August 6, 2020 Reply

    Can anyone be added to Lawsuit?

    • Dissent - August 6, 2020 Reply

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

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