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White Mountains (WTM) files a lawsuit against Allstate (ALL -0.1%), alleging that ALL...

White Mountains (WTM) files a lawsuit against Allstate (ALL -0.1%), alleging that ALL inappropriately lowered the final price in it's purchase of Esurance. Allstate was to make an estimated payment at closing related to Esurance's tangible book value, with an adjustment after the fact to reconcile the actual book value to the estimate, but WTM asserts it missed - by five months - a firm deadline to have a post-closing balance sheet audited.
Comments (1)
  • jeffreyalewis
    , contributor
    Comment (1) | Send Message
     
    Surprise surprise.
    18 Sep 2012, 02:20 PM Reply Like
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