Privacy breach: Class action settlement agreement submitted to the Superior Court of Quebec for approval

Montreal, February 8, 2022 – A settlement agreement was concluded between Desjardins and the plaintiffs represented by law firms Siskinds Desmeules and Kugler Kandestin after they filed class actions in connection with the privacy breach announced in June 2019. Desjardins is pleased that a settlement agreement was reached. On February 7, the settlement agreement passed the pre-approval stage at the Superior Court of Quebec.

There's no need to contact Desjardins at this time as there are still several steps before the settlement agreement is approved by the court and the claims process can begin. Unless they want to object to the settlement or opt out of the class actions to file their own lawsuit, members and clients don't need to do anything at this stage

Full details are available at www.desjardinssettlement.com External link. This link will open in a new window..

How much is the settlement?
The settlement agreement submitted to the Superior Court of Quebec for approval allows for a maximum amount of $200,852,500 to be paid out as individual recovery to eligible individuals who file a claim.

Who can make a claim under the settlement agreement?
All individuals affected by the privacy breach announced by Desjardins on June 20, 2019, are included in the settlement agreement, namely:s

• Current and former Desjardins banking members
• Current and former clients with a credit card or in-store financing
• Anyone who received a letter informing them of the situation

What kind of claims can be made?
You can file two types of claims under the settlement agreement:

• If you were impacted by the situation announced in June 2019, you can claim up to $90.
• If your identity was stolen after January 1, 2017, you can claim up to $1,000.

Full details are available at www.desjardinssettlement.com External link. This link will open in a new window..

Should you contact Desjardins to submit a claim now?
No. The settlement agreement needs to be approved by the Superior Court of Quebec before any claims can be submitted. Once the court approves the settlement, eligible individuals will be informed through notices in national newspapers and messages in AccèsD or by mail. The notices will state that the settlement agreement has taken effect and the claims period is open. At that point, eligible individuals can file their claim with RicePoint, the independent administrator (not Desjardins).

Full details are available at www.desjardinssettlement.com External link. This link will open in a new window..

Desjardins Identity Protection
All Desjardins members and clients benefit from the four components of Desjardins Identity Protection, one of the best available protection programs in Canada:

1. Protection: Accounts and assets at Desjardins are fully protected against unauthorized transactions.
2. Support: If a member or client's identity is stolen, Desjardins can provide individual support through every step of the identity recovery process.
3. Reimbursement: Members and clients may be reimbursed up to $50,000 for expenses they incur to recover their identity, such as notary or attorney's fees and lost wages.
4. Monitoring: Members and clients can sign up for five years of Equifax credit monitoring free of charge. This service includes daily access to credit scores on Equifax's website, as well as credit report monitoring and alerts of key changes.

Former banking members, former clients with a credit card or in-store financing, and anyone who received a letter informing them of the situation can also sign up for the Equifax service for free, which includes credit report monitoring, identity theft assistance and insurance to cover some expenses.

Eligible individuals can request their activation code for the Equifax credit monitoring paid for by Desjardins by visiting www.desjardins.com/desjardins-identity-protection External link. This link will open in a new window.. The deadline is December 31, 2023.