Allstate Faces Lawsuit for Unlawfully Tracking Drivers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy ALL?
Allstate must face a proposed class action alleging it unlawfully tracked drivers via cellphone data without consent, using the information to adjust premiums, deny coverage, and sell data to other insurers, Reuters' Jonathan Stempel reports. U.S. District Judge Jeremy Daniel ruled that plaintiffs may proceed with claims under the Federal Wiretap Act, citing allegations that the company monitored detailed driving and phone-use behavior to monetize the data, Stempel writes.
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Analyst Views on ALL
Wall Street analysts forecast ALL stock price to rise
16 Analyst Rating
9 Buy
6 Hold
1 Sell
Moderate Buy
Current: 207.500
Low
207.00
Averages
239.64
High
281.00
Current: 207.500
Low
207.00
Averages
239.64
High
281.00
About ALL
The Allstate Corporation protects people from life’s uncertainties with a wide array of protection for autos, homes, electronic devices and identity theft. The Company’s products are available through Allstate agents, independent agents, major retailers, online and at the workplace. Its Allstate Protection segment offers private passenger auto, homeowners, other personal lines and commercial insurance. Its Run-off Property-Liability segment includes property and casualty insurance coverage. The Company’s Protection Services segment provides consumer product protection plans, device and mobile data collection services and analytic solutions using automotive telematics information, roadside assistance, protection and insurance products and identity protection and restoration through Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity and Allstate Identity Protection.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Financial Transparency: Allstate routinely posts financial information and material announcements on its investor website, reflecting the company's commitment to transparency, which helps to bolster investor confidence.
- Broad Insurance Coverage: Allstate currently has 211 million policies in force, offering a wide range of insurance products including auto, home, electronic devices, and identity protection, showcasing its strong competitive position and market share in the insurance sector.
See More
