The Allstate Corporation
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | The Allstate Corporation |
Stock Symbol : | NYSE: ALL |
Class Period Start: | 10/30/2014 |
Class Period End: | 08/03/2015 |
Lead Plaintiff motion: | 01/09/2017 |
Date Filed: | 11/10/2016 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Northern District of Illinois |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the January 9, 2017 lead plaintiff deadline in a class action lawsuit filed against The Allstate Corporation (NYSE: ALL) (“Allstate” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of Illinois and investors, who purchased The Allstate Corporation securities between October 30, 2014 and August 3, 2015, have until January 9, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased The Allstate Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose 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. On August 3, 2015, Allstate revealed unsatisfactory second quarter 2015 financial results, reporting a third consecutive quarter of increased auto claims frequency, a 57% decline in operating income, and operating earnings per share that were $0.34 below analysts' consensus estimate. Also, the Company's CEO stated that the lower quarterly profit was "driven by a deterioration in auto insurance margins" and explained that "[a]uto insurance margins decreased as higher claim frequency and severity more than offset average auto insurance price increases." On this news, NYSE: ALL dropped $7.04 per share and close at $62.34 per share on August 4, 2015. If you were negatively impacted by your investment in The Allstate Corporation securities between October 30, 2014 and August 3, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |