Morgan Stanley Shares Down 3% After Employee Theft Of Client Data

Morgan Stanley shares slid 3% in midmorning trade, after the bank said an employee stole client data and posted it online. The employee, who worked at the bank's wealth-management division, has been terminated and law enforcement and regulators have been notified, Morgan Stanley said in a statement. "While there is no evidence of any economic loss to any client, it has been determined that certain account information of approximately 900 clients, including account names and numbers, was briefly posted on the Internet," said the statement. The bank detected the exposure and removed it promptly, it said. Overall, the employee stole information for up to 10% of the bank's wealth-management clientele, although the theft did not include Social Security numbers or account passwords.