SCHEDULE 14A
(RULE 14A-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No.1)
Filed by the registrant [x]
Filed by a party other than the registrant [ ]
Check the appropriate box:
[ ] Preliminary proxy statement. [ ] Confidential, for use of the
Commission only (as permitted
by Rule 14a-6(e)(2)).
[ ] Definitive proxy statement.
[x] Definitive additional materials.
[ ] Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12.
Allstate Financial Corporation
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(Name of the Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of filing fee (check the appropriate box):
[x] No fee required.
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[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1. Title of each class of securities to which transaction applies:
................................................
2. Aggregate number of securities to which transaction applies:
................................................
3. Per unit price or other underlying value of transaction computed pursuant to
Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is
calculated and state how it was determined):
................................................
4. Proposed maximum aggregate value of transaction:
................................................
5. Total fee paid:
................................................
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number, or
the Form or Schedule and the date of its filing.
1. Amount Previously Paid:
................................................
2. Form, Schedule or Registration Statement No.:
................................................
3. Filing Party:
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4. Date Filed:
................................................
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ALLSTATE FINANCIAL CORPORATION NEWS
2700 S. Quincy Street, Suite 540, Arlington, VA 22206 RELEASE
FOR IMMEDIATE RELEASE
Contact: Craig Fishman
President and
Chief Executive Officer
(703) 931-2274
ALLSTATE FINANCIAL CORPORATION
ANNOUNCES RULING IN PROXY CONTEST LITIGATION
Arlington, Virginia - May 8, 1998 - Allstate Financial Corporation (NASDAQ:
ASFN) announced today that the United States District Court for the Eastern
District of Virginia denied the Company's motion for partial summary judgment in
its suit against Value Partners, Ltd. The Company had sued Value Partners
alleging, among other things, that 318,050 shares of Allstate common stock
acquired in late 1995 and early 1996 were not entitled to be voted under the
Virginia Control Share Acquisition statute at the Company's upcoming annual
meeting of shareholders to be held on May 12, 1998. The court granted Value
Partners' motion for partial summary judgment and held that the Virginia Control
Share Acquisition statute does not apply to Allstate.
Craig Fishman, President and Chief Executive Officer of Allstate stated:
"We are very disappointed in the Court's ruling. The annual meeting will proceed
as scheduled and all shareholders will have the opportunity to choose between
the slate proposed by our Board of Directors and that proposed by Value
Partners."
Allstate Financial Corporation provides funding to small- and medium-sized
companies by purchasing and monitoring portions of their accounts receivable and
by making asset-based loans secured by accounts receivable, inventory, equipment
and other assets. Allstate Factors, a division of Allstate Financial
Corporation, is engaged in traditional non-recourse factoring of accounts
receivable.
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