SAN DIEGO, March 19, 2018 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of NYSE: ALL shares against Allstate Corp.
Investors, who purchased shares of Allstate Corp (NYSE:ALL) in October 2014 or earlier and continue to hold any of those NYSE: ALL shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On November 10, 2016, a lawsuit was filed against Allstate Corp over alleged securities laws violations. The plaintiff alleged that the issued allegedly false and misleading statements and/or failed to disclose adverse information regarding the Company's business and prospects, including that the reason for the 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, and that as a result of defendants' allegedly false statements and/or omissions, Allstate Corp stock traded at artificially inflated prices between October 30, 2014 and August 3, 2015, 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.
On March 30, 2017, an amended complaint was filed and on June 1, 2017, the defendants filed their motion to dismiss the case. On February 27, 2018, the judge denied the motion to dismiss the lawsuit.
Those who purchased Allstate Corp (NYSE:ALL) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
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Source:Shareholders Foundation, Inc.