Desjardins Group announced Dec. 16 it has reached a proposed C$201 million (U.S. $155 million) settlement agreement in a class-action lawsuit following a long-running data breach that ultimately compromised the personal information of nearly 10 million individuals in Canada and abroad.
The proposed settlement follows an investigation that began in July 2019 by two privacy watchdogs: the Office of the Privacy Commissioner of Canada and its Quebec equivalent. As a Canadian financial services cooperative, Desjardins is subject to provincial data privacy compliance laws in Quebec but also must comply with federal data privacy requirements for its activities elsewhere in Canada.
