Desjardins Negative Vacation Bank Class Action

Welcome to the Desjardins Negative Vaction Bank Class Action Settlement Website

Davis v. Desjardins (Court File No.: CV-21-00002102-00CP)

The settlement has been approved. The Defendants shall pay an all-inclusive settlement amount of $7,597,469.85 (the “Gross Settlement Fund”) in exchange for a full and final release of the claims against them. The Gross Settlement Fund will be reduced by Class Counsel’s fees, HST, disbursements, settlement administration costs, and an Honorarium to the Representative Plaintiff. The remaining amount shall be available to be distributed to eligible Class Members in accordance with the Distribution Protocol.

Class Members must submit a claim in order to receive settlement benefits. The deadline to submit a claim is March 25, 2026.

Background

A class action lawsuit has been commenced against Desjardins Financial Services Firm Inc., Desjardins Global Asset Management & The Personal Insurance Company (“Desjardins”) for their negative vacation bank policy and unauthorized deductions from wages at the end of employment. The employee class action lawsuit alleges that Desjardins’ practice of making unauthorized deductions from wages as per the company’s negative vacation bank policy is in violation of employment standards.

The Plaintiff and Desjardins have reached a settlement agreement. Desjardins denies any liability and denies the truth of the allegations made against it. On November 3, 2025 the Court approved the settlement and fees payable to class counsel.

The settlement resolves the litigation entirely.

Who is included in the Settlement?

Class Members are defined as:

All employees outside of Quebec who were employed by Desjardins Financial Services Firm Inc., Desjardins Global Asset Management, The Personal Insurance Company, Desjardins Financial Security, Desjardins Securities Inc., Caisse Centrale Desjardins, Fédération des caisses Desjardins du Québec, Collabria Financial Services Inc., Desjardins Shared Services Group Inc., Desjardins Technology Group Inc., Desjardins Financial Security Life Assurance Company, and Desjardins Investment Product Operations Inc., and Assistel Inc. (collectively “Desjardins”)  between May 1, 2011 and August 13, 2017, were subject to the vacation bank policy and who were terminated or left Desjardins prior to the date of April 24, 2025, other than those who executed a termination agreement releasing their claims for vacation pay on or before July 31, 2024.

Class Member Options

1. Submit a claim: Class Members must submit a claim to the Claims Administrator by March 25, 2026 in order to receive any settlement benefits. You may submit a claim online here. A PDF version of the claim form is available for download here.
   
   
2. You can do nothing: If you are a Class Member and do not submit a claim by the deadline of March 25, 2026, you will not be eligible to receive a payment. 

More Information

Copies of the Short Form, Long Form Notice, Claim Form and other documents are available on the Documents page.

Answers to Frequently Asked Questions are available here.

If you have a question that is not answered by the FAQ, you may contact Class Counsel or the Claims Administrator.