Morgan Stanley, US states reach $6.5M data security settlement

New York Attorney General Letitia James announced a USD6.5 million settlement with multinational financial firm Morgan Stanley after a multistate lawsuit claimed the company put consumer data at risk. State attorneys general from Connecticut, Florida, Indiana, New Jersey, New York and Vermont claimed Morgan Stanley "failed to decommission its computers and erase unencrypted data in certain computer devices that were later auctioned."