Reply to post: Re: I know the real answer, but I have to ask...

Morgan Stanley hit with $60m penalty for failing to properly decommission old kit hosting 'wealth management' data

a_yank_lurker Silver badge

Re: I know the real answer, but I have to ask...

Agree to massive fine to avoid a trial and a verdict with a worse fine and sentence. As part of the settlement the defendant does not have to admit guilt officially; they technically were never found guilty by a court. But the size of the fine means they thought fighting it would lead to a conviction, essentially admitting guilt but not having the legal stigma of a guilty verdict.

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