Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Monday, June 24, 2024 | Back issues
Courthouse News Service Courthouse News Service

Stockholders Say Allstate Cheated

CHICAGO (CN) - A shareholders' derivative complaint accuses Allstate of illegally pumping its share price by 12 percent, by refusing to produce documents describing the procedures it uses to avoid or reduce claims payments. Plaintiffs claim the procedures - designed for Allstate by McKinsey & Co. - caused the State of Florida to bar Allstate from writing new policies there. See federal complaint.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.