NU Online News Service, March 1, 1:40 p.m.EST

Allstate Insurance Company has filed its fifth lawsuit in NewYork against a bank over investment losses on residentialmortgage-backed securities.

On Feb. 28 Allstate filed a lawsuit against Credit SuisseSecurities and certain affiliates. The insurer said that between2005 and 2008 it bought more than $231 million in mortgage-backedsecurities from the bank, which omitted information or gave untruestatements about the quality of the mortgages, Allstatealleges.

With the latest lawsuit, Allstate is seeking to recover lossesof more than $2 billion from the five banks it is suing.

In each suit, Allstate seeks damages including rescission,monetary losses, attorneys’ fees and costs, and prejudgmentinterest, the insurer said.

Less than a week ago Allstate filed a suit against Citigroup and DeutscheBank. The Northbrook, Ill.-based insurer said it bought morethan $200 million in mortgage-backed securities from Citigroup’sCitimortgage Inc., and during the same time Allstate purchasedabout $185 million of the securities from defendants Ace SecuritiesCorporation and Deutsche Bank Securities Inc.

In February a suit was also filed against J.P. Morgan Chase& Co. over more than $750 million in mortgage-backedsecurities purchased.

Allstate Insurance Co. in January filed a federal lawsuit against Bank of America’sCountrywide Financial Corp., seeking damages related to itspurchases of more than $700 million in mortgage-backed securitiesfrom the company.

Countrywide has also been sued by Ambac, which wrote financial guarantyinsurance policies for Countrywide.