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