Allstate Says Employees In ERISA Suit 'Lost Nothing'

By Celeste Bott (June 10, 2021, 5:25 PM EDT) -- Allstate Corp. pushed back Wednesday on a proposed class of current and former employees fighting to maintain claims they lost more than $70 million in retirement savings due to plan mismanagement, saying "the plain truth is that plaintiffs lost nothing."

Urging an Illinois federal court to dismiss their lawsuit for good, the insurance giant argued in a reply brief that the workers' failure to exhaust administrative remedies dooms the entire complaint, and reiterated its contention that the named plaintiffs lack standing and engaged in improper collective pleading.

Further, analysis of their arguments "belies plaintiffs' rhetoric that they were harmed at all,"...

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