Morgan Stanley to pay $60 million to resolve data security lawsuit

Jonathan Stempel reports:

 Morgan Stanley agreed to pay $60 million to settle a lawsuit by customers who said the Wall Street bank exposed their personal data when it twice failed to properly retire some of its older information technology.

A preliminary settlement of the proposed class action on behalf of about 15 million customers was filed on Friday night in Manhattan federal court, and requires approval by U.S. District Judge Analisa Torres.

Read more from Reuters at WTVB.

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