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Fired Allstate employees awarded $27 million in defamation lawsuit

Fired Allstate employees awarded $27 million in defamation lawsuit

The "good hands" at Allstate may need some deep pockets after a federal jury awarded four former employees more than $27 million in a defamation lawsuit against the insurance company.

The employees, all part of a now-defunct equity division at Northbrook-based Allstate, were fired in December 2009 for allegedly timing trades to boost their own incentive bonuses at the expense of the company's investment portfolios, according to court documents.

Allstate pointed a finger in their direction in a February 2010 Securities and Exchange Commission filing, blaming "some employees" for timing trades, which the company said may have cost the portfolios more than...

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