NEW ORLEANS--(EON: Enhanced Online News)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 9, 2017 to file lead plaintiff applications in a securities class action lawsuit against The Allstate Corporation (NYSE: ALL), if they purchased the Company’s shares between October 30, 2014 and August 3, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Illinois.
“driven by a deterioration in auto insurance margins”
What You May Do
If you purchased shares of Allstate and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 9, 2017.
About the Lawsuit
Allstate and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 3, 2015, Allstate announced disappointing 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. Allstate’s CEO stated that the lower quarterly profit was “driven by a deterioration in auto insurance margins” and “[a]uto insurance margins decreased as higher claim frequency and severity more than offset average auto insurance price increases.”
On this news, the price of Allstate’s stock plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.