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Vermont Attorney General announces multistate settlement with Morgan Stanley

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Vermont will receive almost $600,000 in multistate settlement with Morgan Stanley over poor data security practices.

The Vermont Attorney General Thursday announced a multistate settlement with the investment banking company Morgan Stanley due to poor data security practices.

Vermont will receive almost $600,000 from the settlement.

The AG's office says Morgan Stanley decommissioned computers and servers without ensuring the erasure of unencrypted personal data from millions of customers. That dates back to 2015.

Almost $90,000 of Vermont's share of the settlement will be used to compensate Vermonters impacted by securities law violations.

Between Vermont and five other states, the total settlement with Morgan Stanley is $6.5 million.

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