Desjardins settles 2019 data breach class-action lawsuit for up to nearly $201M - CBC News | Canada News Media
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Desjardins settles 2019 data breach class-action lawsuit for up to nearly $201M – CBC News

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Financial services firm Desjardins Group will pay up to nearly $201 million to settle a class-action lawsuit related to a data breach in 2019 that affected close to 9.7 million Canadians.

The agreement, which is subject to approval by the Quebec Superior Court, would allow eligible individuals who were affected by the privacy breach that came to light in June 2019 to receive a payment.

The settlement applies to members and former members as well as clients and former clients of the financial co-operative who have held Desjardins credit cards or financing products.

Desjardins says there’s no need for people to contact them before the agreement is approved and a claims process begins.

Plaintiff law firms Siskinds Desmeules and Kugler Kandestin say the agreement provides compensation for loss of time related to the personal information breach, as well as compensation for identity theft.

It also provides members Equifax credit monitoring service coverage for five years, and an extension by at least five years of the other protective measures implemented by Desjardins following the breach.

Details of the settlement are available at www.desjardinssettlement.com or by calling 1-888-886-7164.

A report by the federal Privacy Commissioner attributed the data breach to a series of technological and administrative gaps at Desjardins.

For at least 26 months, a rogue employee siphoned sensitive personal information collected by Desjardins from customers who had purchased or received products through the organization, a report by the commissioner found.

For some, the data included first and last names, dates of birth, social insurance numbers, street addresses, telephone numbers, email addresses and transaction histories.

The breach occurred over a period of more than two-years before Desjardins became aware of it, which happened only after the organization had been notified by police, according to the report.

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Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

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November 5, 2024

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TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

The Canadian Press. All rights reserved.

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

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November 5, 2024

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ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

The Canadian Press. All rights reserved.

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Thomson Reuters reports Q3 profit down from year ago as revenue rises

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November 5, 2024

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TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.

The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.

Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.

In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.

On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.

The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:TRI)

The Canadian Press. All rights reserved.

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