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Morgan Stanley has been hit with a proposed class action seeking $5 million in connection with a recent data breach disclosure. So reports ThinkAdvisor.

Morgan Stanley2The complaint, filed in Manhattan federal court on behalf of customers allegedly affected, claims the financial institution failed to protect personally identifiable data during previously disclosed instances, in 2016 and 2019, when it scrapped old computer gear.

A Morgan Stanley spokesperson declined to comment on the lawsuit but said, “We have continuously monitored the situation and have not detected any unauthorized activity related to the matter, nor access to or misuse of personal client information.”

Read the full article from ThinkAdvisor.

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