Claim Form Deadline: Closed
Payout: Up to $10,000
Proof Required: Yes
Payment Method: Mailed Check
What is This Settlement About?
A class action lawsuit has been settled against Morgan Stanley for $60,000,000. The lawsuit claims that Morgan Stanley, an American multinational investment bank and financial services company, was involved in two separate data security incidents that compromised the personal identifying information (PII) of approximately 15 million current and former clients.
The allegations include that Morgan Stanley failed to properly dispose of IT equipment containing sensitive client information in 2016 and 2019. Many of these devices were sold to third parties and have not been accounted for, potentially allowing unauthorized access to clients’ private information. The affected IT equipment may have contained PII such as:
- Social Security Numbers
- Maiden Names
- Past and Current Work and Home Addresses
- Driver’s License Numbers
- Personal Income
- Asset Holding Information
- Passports
- Telephone Numbers
- Family Members’ Information
- Dates of Birth
This compromised information poses significant risks for identity theft and other damages.
How Do I Qualify?
You may be eligible for benefits from this settlement if you are a former or current Morgan Stanley client who received a data breach notice letter in July 2020 and/or June 2021 indicating that your personal information may have been compromised.
If you did not receive a unique code but believe you qualify, please call 1-855-604-1744 (toll-free) to verify your identity and obtain more information.
What Can I Get?
To resolve the claims related to the Data Security Incidents, Morgan Stanley has established a $60 million settlement fund.
Eligible class members can receive:
- Reimbursement for up to four hours spent researching or addressing issues related to the Data Security Incidents, at a rate of $25 per hour, totaling up to $100. No separate documentation is needed for claims related to lost time up to four hours.
- Reimbursement of up to $10,000 for out-of-pocket expenses, as well as up to an additional five hours of time if you can document the time spent remedying issues related to the Data Security Incidents (at $25 per hour or documented compensation of up to $50 per hour for lost work). Reasonable documentation must be included with your Claim Form to receive reimbursement for out-of-pocket expenses.
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.
