$60M Morgan Stanley Breach Deal Not Enough, Objectors Say

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By Allison Grande (March 30, 2022, 10:39 PM EDT) — Several potential class members are urging a New York federal judge to reject a $60 million deal that Morgan Stanley recently reached to settle claims over a pair of data security incidents tied to the bank’s disposal of computer hardware, arguing that the pact provides too little to impacted customers and too much to class counsel.

The parties revealed in November that they had inked a deal to end a consolidated proposed class action accusing Morgan Stanley Smith Barney LLC of failing to adequately protect current and former customers’ personal and private information during the process of decommissioning retired information technology…

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