NU Online News Service, March 1, 1:40 p.m. EST
Allstate Insurance Company has filed its fifth lawsuit in New York against a bank over investment losses on residential mortgage-backed securities.
On Feb. 28 Allstate filed a lawsuit against Credit Suisse Securities and certain affiliates. The insurer said that between 2005 and 2008 it bought more than $231 million in mortgage-backed securities from the bank, which omitted information or gave untrue statements about the quality of the mortgages, Allstate alleges.
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