Thread regarding Allstate Corp. layoffs

Since 2015?

https://www.reuters.com/legal/allstate-pay-90-mln-shareholder-settlement-2023-08-16/

Just going to leave this here.

"Aug 16 (Reuters) - Allstate (ALL.N) agreed to pay $90 million to settle a class action lawsuit by shareholders who accused the insurer of defrauding them by concealing that it lowered underwriting standards to boost growth.

A preliminary settlement was filed on Monday in federal court in Chicago, and requires a judge's approval.

The lawsuit came after Allstate on Aug. 3, 2015, reported unexpectedly high claims payouts from auto accidents, causing a larger-than-expected 38% decline in quarterly operating profit.

Allstate's share price fell 10.1% the next day, wiping out $2.8 billion of market value."

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| 930 views | | 9 replies (last ) | Reply
Post ID: @OP+1o8w4BKh

9 replies (most recent on top)

Isn't this some kind of criminal activity, i.e. fraud? Securities and Exchange should get involved....the top executives were lying to, and deceiving investors and shareholders!

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Post ID: @1ijz+1o8w4BKh

BOD isn't going to do anything because this is by design. Vanguard, Blackrock, State Street are majority ownership of multiple carriers and the grand design is to reduce the market down to the monopolies they can fully control.

AS isn't The Chosen One and TW and his traveling sideshow are there as sacrificial lambs for the upcoming sla-ghter.

Anybody who needs help on this catch a podcast of PBD.

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Post ID: @1tin+1o8w4BKh

Now no more shenanigans. No more tomfoolery. No more ballyhoo.

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Post ID: @1qao+1o8w4BKh

Well some kind of tomfoolery is going on. Because no way this company is benefitting at all from its ridiculous and epic failure of business management and execution brought to you by clowns Rizzo, Wilson, and the rest of the drooling f#ckwits. They are sitting in their cushy offices counting their bonus monies stolen through false pretenses.

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Post ID: @eyd+1o8w4BKh

Who knows what shenanigans are going on where they have not been caught….You can bet a bunch…..

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Post ID: @ioz+1o8w4BKh

@brd+1o8w4BKh, I would be happy if the BOD just did their duty and held them accountable…as opposed to enabling it with millions in “you are doing a great job” bonuses…

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Post ID: @yhw+1o8w4BKh

Lock them up!!

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Post ID: @brd+1o8w4BKh

So much for that “shared value” bulls@@t that they tout and make you sign off on every year that you will not take a cookie from a vendor or you will lose your job,.
Don’t forget about the ongoing rating scam where they have lower premium for short term bad risk policyholders since they may be prone to leave and do it by charging those with lower risk long term customers more…This was in consumer reports only last year…
Allstate leadership preaches integrity to underlings but sure does not live by it….
Wilson is as slimy as they come..

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Post ID: @jkh+1o8w4BKh

Criminals.....all of them. Even now.

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Post ID: @iiu+1o8w4BKh

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