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April 21, 2014
10:03 EDTALLAllstate announces favorable $3.8M fraud judgement
Allstate announced that based on a six-week jury trial, the United States District Court for the Northern District of Texas has entered a $3.8M judgment in favor of Allstate Insurance Company. The jury found that Michael Kent Plambeck, D.C., Jennifer Giessner, Douglas Friedman, Randal Toca, and other persons and entities engaged in a pattern of racketeering activity in violation of the Federal Racketeering Influenced and Corrupt Organizations Act and the Ohio Corrupt Practices Act, the company said.
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November 19, 2015
17:31 EDTALLAllstate adopts proxy access bylaw amendments
Allstate announced that its board has adopted amendments to the company's bylaws providing "proxy access" shareholder rights. "Allstate's board is committed to strong corporate governance and creating value for our shareholders," said Thomas Wilson, chairman and CEO. "Our board proactively adopted proxy access as part of our ongoing commitment to governance best practices that include dialogue, transparency and responsiveness to shareholder views." The bylaw amendments will allow holders of at least 3 percent of Allstate's outstanding common shares, who have held the shares continuously for at least three years, to submit eligible director candidates for up to 20 percent of the board. Up to 20 shareholders may aggregate their shares to reach the 3 percent ownership threshold. Proxy access rights will first be available to shareholders in connection with Allstate's 2017 annual shareholders meeting.
08:19 EDTALLAllstate reports October catastrophe loss estimate of $172M pre-tax
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