SECURITIES NOTICE: Rosen Law Firm Reminds The Allstate Corporation Investors of Important Deadline in Class Action - ALL
December 08 2016 - 7:06PM
Business Wire
Rosen Law Firm, a global investor rights law firm, reminds
purchasers of The Allstate Corporation securities (NYSE:ALL) from
October 30, 2014 through August 3, 2015, both dates inclusive (the
“Class Period”) of the important January 9, 2017 lead plaintiff
deadline in the class action. The lawsuit seeks to recover damages
for Allstate investors under the federal securities laws.
To join the Allstate class action, go to
http://www.rosenlegal.com/cases-993.html or call Phillip Kim, Esq.
or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants
made false and/or misleading statements and/or 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
Allstate’s control, was actually the result of Allstate’s growth in
its auto policy business through higher risk drivers. On August 3,
2015, Allstate reported disappointing second quarter 2015 financial
results, including 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. On that same day, Allstate’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, shares of Allstate fell
$7.04 per share to close at $62.34 per share on August 4, 2015.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
January 9, 2017. If you wish to join the litigation, go to
http://www.rosenlegal.com/cases-993.html or to discuss your rights
or interests regarding this class action, please contact Phillip
Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or
via email at pkim@rosenlegal.com or kchan@rosenlegal.com. Attorney
Advertising. Prior results do not guarantee a similar outcome.
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Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20161208006352/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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