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Morgan Stanley Wishes it had used Virtru

June 17, 2014

What do you do when you are trying to fight a $53 billion hostile takeover? Easy. Leak embarrassing emails that make the other company look bad and drag the banker you both share into the fight. This is exactly what Allergan did today, and this is why every company sending sensitive emails to external clients, partners, and customers should be using Virtru.

With Virtru, you control the messages you send, and in this case, Morgan Stanley could have assigned an explicit expiration date and disabled forwarding for the advice it was providing. Instead of using Virtru, Morgan Stanley used plain, unencrypted email, and today Allergan decided that the world should see an email from a Morgan Stanley health-care banker calling the company trying to take it over a “house of cards.”

All’s Fair in Banking and Email

Allergan, a pharmaceutical company, is facing a $53 billion takeover bid from Valeant Pharmaceuticals. Morgan Stanley works with Valeant, and apparently, from the emails that were leaked by Allergan, it also works with Allergan. In an email that Morgan Stanley wishes it could take back, according to the WSJ:

In one email written by David Horn, a Morgan Stanley health-care banker, to Allergan finance chief Jeff Edwards on May 18, the bankers said they would help persuade shareholders and the media that “Valeant is a house of cards,” according to an Allergan statement.

Virtru: Your Professional Opinion Secured, Your Reputation Protected

Bankers, accountants, and other professionals sending sensitive, timely advice should start using Virtru to secure that advice.  Every message you send a client should be encrypted with Virtru’s client-side encryption, and it should be attached to a Virtru policy that can be revoked. When you send particularly sensitive information, you should also disable forwarding to avoid the situation that happened today with Allergan and Morgan Stanley.

If Morgan Stanley had secured the messages it sent to Allergan with Virtru, they wouldn’t be in this embarrassing situation today.

 

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