Jury Awards $27M to Four Fired Allstate Employees in Illinois

July 5, 2016

A federal jury has awarded more than $27 million to four former Allstate employees who sued the insurer for defamation.

The Chicago Tribune reported the employees worked for a now-defunct equity division of the Northbrook, Illinois-based company. According to court documents, they were fired in 2009 for allegedly timing trades to increase their incentive bonuses.

Allstate blamed “some employees” in a 2010 Securities and Exchange Commission filing for timing trades, saying they cost the portfolio more than $200 million over six years.

Jury awardThe employees were never named. But their lawyer says “it ruined their careers” because people could “connect the dots” and believe his clients did it.

Allstate spokeswoman Laura Strykowski says the company disagrees with the jury’s June 21 verdict and is “reviewing our post-verdict options.”

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Latest Comments

  • July 11, 2016 at 10:40 am
    martin says:
    Your in good hands with Allstate, but sometimes you only get the finger..
  • July 6, 2016 at 2:09 pm
    James says:
    I wouldn't worry too much about Allstate, they have plenty of lawyers and aren't afraid to use them.
  • July 6, 2016 at 12:57 pm
    okt0ber says:
    The Chicago Tribune has a much more in depth article about what these employees were doing. Basically their bonus structure was set up in a way that provided incentives for bu... read more
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