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Morgan Stanley is facing a pair of lawsuits claiming that the company exposed sensitive customer details by failing to purge all the data from decommissioned computer gear that has since gone missing. So reports Financial Planning.

Morgan Stanley2“The missing equipment and servers contain everything unauthorized third-parties need to illegally use Morgan Stanley’s current and former customers’ [personal identifiable information] to steal their identities and to make fraudulent purchases,” the complaints read.

The lawsuits in New York federal court are each seeking class action status.

Read the full article from Financial Planning.

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