Allstate Sues Countrywide for Securities Fraud

On December 27, 2010, Allstate Insurance Company filed a complaint in the Southern District of New York against Countrywide Financial Corporation and several affiliates and individual officers alleging a variety of federal securities claims in connection with alleged material misstatements or omissions in the offering documents for several RMBS. Allstate seeks rescission and damages in connection with its alleged purchases of $700 million in RMBS certificates from Countrywide during the period from March 2005 to June 2007. Complaint.