Morgan Stanley Unit To Settle Claims It Exposed Client Data

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By Sarah Jarvis (November 5, 2021, 7:35 PM EDT) — A New York federal judge has dismissed a consolidated suit brought by current and former Morgan Stanley clients over data security incidents tied to the bank’s disposal of computer hardware, after the parties indicated they reached an agreement to settle the proposed class action.

U.S. District Judge Analisa Torres said in a one-page order Thursday that the case is dismissed without prejudice, noting it could be reopened within 45 days if the settlement between Morgan Stanley Smith Barney LLC and the customers isn’t consummated. Without disclosing the settlement terms, the parties said in a joint letter Wednesday that the plaintiffs plan…

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