Allstate, Wallace Saunders Settle Malpractice Suit

Law360, New York (July 20, 2011, 1:37 PM EDT) -- Allstate Insurance Co. and law firm Wallace Saunders Austin Brown & Enochs Chtd. on Tuesday settled a suit brought by Allstate in Missouri alleging the firm botched a failure-to-settle suit that led to a $16.3 million verdict against the insurer.

U.S. District Judge Dean Whipple dismissed the suit with prejudice at the request of Allstate, Wallace Saunders and co-defendant Paul Hasty Jr., a former shareholder with the firm. Each party in the action will pay its own fees and costs.

Allstate alleged Wallace Saunders and Hasty...
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