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Allstate Sues Credit Suisse Over Mortgage-Backed Securities

Allstate Corp., the largest publicly traded U.S. home and auto insurer, sued Credit Suisse Group AG units over claims they fraudulently sold the insurer more than $231 million of residential mortgage-backed securities.

Allstate asked for damages including the lost market value of the securities, plus principal and interest payments in the suit, filed yesterday in New York state Supreme Court.