7th Circ. Undoes Class Cert. In Allstate Stock-Drop Suit

Law360 (July 16, 2020, 10:46 PM EDT) -- The Seventh Circuit on Thursday vacated a lower court's decision to certify a class of investors in a stock-drop suit against Allstate Corp., ruling that while class certification may be appropriate, the court didn't adequately consider evidence that Allstate stock prices were not impacted by allegedly lax underwriting standards.

In a unanimous decision penned by U.S. Circuit Judge David F. Hamilton, the panel agreed with Allstate that a U.S. Supreme Court precedent requires judges to weigh and make findings on the price-impact evidence at the class certification stage.

"The Supreme Court has long warned the lower federal courts not to confuse...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!