Friday February 20, 07:02 PM
STOCKS NEWS US-Court upholds lawsuit dismissal against Allstate
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1343 ET 20Feb2009-Court
upholds lawsuit dismissal against Allstate (NYSE: ALL - news) ------------------------------------------------------------------------------
A federal appeals court upheld the dismissal of a lawsuit against Allstate Corp and State Farm Fire and Casualty Co. The lawsuit accused the companies of overbilling the U.S. government for flood damage related to Hurricane Katrina.
The ruling by the Fifth Circuit Court of Appeals in New Orleans revives the suit against other companies, including Fidelity National Insurance, Fidelity National Property and Casualty Insurance and Liberty Mutual Fire Insurance.
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