The Superior Court of Quebec has approved a nearly $200.9 million settlement in a class action lawsuit against Desjardins over a data breach – the largest to date in Canada’s financial services industry.
Siskinds Desmeules and Kugler Kandestin, attorneys for the class members, say anyone affected by the breach, regardless of where they live, will be able to claim.
Class members can seek compensation for loss of time related to the breach of personal information, as well as for identity theft.
In addition, class members who have not already registered for Equifax’s credit monitoring service will be able to do so for five years at Desjardins’ expense, and maintain the other protection measures put in place by Desjardins following the breach for at least five years.
The federal privacy commissioner said in 2020 that a series of technological and administrative shortcomings caused the high-profile data breach at the financial cooperative, which he said failed to demonstrate the level of due care to protect sensitive personal information entrusted to its care. .
The incident compromised the data of 4.2 million people who had active accounts, Desjardins said.
Group members have nothing to do at this stage. Notices with instructions for making complaints will be distributed over several months beginning around July 21.
For at least 26 months, a rogue employee siphoned off sensitive personal information collected by Desjardins from customers who had purchased or received products through the organization.