SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of The Allstate Corporation – ALL

NEW YORK, Oct. 22, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of The Allstate Corporation (“Allstate” or the “Company”) (NYSE: ALL).   Such investors are advised to contact Robert S. Willoughby at  newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Allstate and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On October 19, 2022, Allstate announced its financial results for the third quarter of 2022.  Among other items, Allstate announced that it expected an adjusted net loss of $400 million to $450 million, impacted by an $875 million charge for unfavorable prior-year reserve re-estimates, excluding catastrophes.  In addition, the Company estimated catastrophe losses at $763 million, pretax, for the quarter. 

On this news, Allstate’s stock price fell $17.44 per share, or 12.9%, to close at $117.71 per share on October 20, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:

Robert S. WilloughbyPomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

Source: Pomerantz LLP