Allstate Sues Citigroup, Deutsche Bank Over Securities
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Allstate Corp., the largest publicly traded U.S. home and auto insurer, sued units of Citigroup Inc. and Deutsche Bank AG over claims they fraudulently sold hundreds of millions of dollars of mortgage-backed securities.
Allstate is seeking to recover the lost market value of the securities, as well as principal and interest payments, according to complaints filed today in New York state Supreme Court in Manhattan.