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NEW YORK, Nov. 4, 2022 /PRNewswire/ — 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.
[Click here for information about joining the class action]
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
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
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