I don't know. How much deflection is acceptable in your device? Deflection only equals failure if it causes something to function improperly.
Stress, on the other hand, is how you determine whether your part will break. For parts under a static load, permanent deflection (yielding) is often the criteria for failure. For parts under a repeated load, the maximum stress is determined by the endurance limit of the material or a fatigue life analysis (cycles to failure).