The Allstate Corporation, The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Northern District of Illinois on behalf of investors who purchased The Allstate Corporation (NYSE: ALL) securities between October 30, 2014 and August 3, 2015.
According to the complaint, during the Class Period, defendants issued false and misleading statements and/or failed to disclose that the reason for the Company’s sudden spike in its auto claims frequency—which defendants claimed was due to external events beyond the Company’s control, including the weather and increased miles driven—was actually the result of Allstate’s growth in its auto policy business through higher risk drivers. As a result of defendants’ false statements and/or omissions, Allstate stock traded at artificially inflated prices during the Class Period, reaching a high of $72.58 per share, and certain of the Company’s insiders, including its CEO, were able to sell their Allstate shares at artificially inflated prices.
“The Allstate Corporation”
If you suffered a loss in Allstate you have until January 9, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.