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Insurance Claims

A federal judge ruled Allstate must face a securities fraud class action accusing it of lying about the cause of a purported spike in auto insurance claims, finding credibility in shareholders’ assertion that the insurer waited years to attribute the increase in claims to its reduced underwriting standards.

CHICAGO – A federal judge ruled Allstate must face a securities fraud class action accusing it of lying about the cause of a purported spike in auto insurance claims, finding credibility in shareholders’ assertion that the insurer waited years to attribute the increase in claims to its reduced underwriting standards.

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