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NEW YORK, Dec. 02, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of The Allstate Corporation (“Allstate”) (NYSE:ALL) between October 30, 2014 and August 3, 2015. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of Illinois. To get more information go to:
http://www.zlk.com/pslra/allstate-corporation
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that 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.
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.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
