Allstate indemnifies its executives against lawsuits. How much money is being wasted defending Tom Wilson against all of the insider trading allegations?
Take a look at the latest one filed in Federal Court...Mims v Wilson...look at page 10 (of 11) part III. Insider Trading...
https://www.scribd.com/document/482301815/Mims-v-Wilson-et-al
It happened in 2020 as well
@pzy+17HNdetl True, but it is nothing new to me. Its what I expect from Allstate. Long time ongoiing shenanigans with disasterous results. I am not sure why TW is still CEO. There has to be underlying reasons like I scratch your back , you scratch my back. Also a company like Allstate probably doesnt have anyone lining up for the CEO position. This way they keep all their dirty secrets and shady dealings behind closed doors.
Yes, the underlying action happened in 2014 — however the litigation between Allstate and shareholders is ongoing in (at least) 3 different cases today. How many millions of dollars is being wasted on lawyers when we could be using those dollars to do something more productive? My guess is that Allstate is paying millions of dollars defending these cases. Money that could have been used on the business (i.e., paying employees).
This was in 2014