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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.

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