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.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.
Additional Reads
-
-
First Amendment battle in Oregon moves to final stage October 24, 2022
-
Hospital chain attack part of ongoing cybersecurity concerns October 6, 2022 -
Saudi spymaster, US gov't say asset fight threatens state secrets September 30, 2022