Allstate agreed to pay $90 million to settle a class action lawsuit by shareholders who accused the insurer of defrauding them by concealing that it lowered underwriting standards to boost growth.

A preliminary settlement was filed on Monday in federal court in Chicago and required a judge’s approval.

The lawsuit began after Allstate made a surprise announcement on August 3, 2015. They revealed that they had to pay more money for car accident claims than expected. This caused their profit for that quarter to drop by a larger-than-expected 38%.

Allstate’s share price fell 10.1% the next day, wiping out $2.8 billion of market value.

Shareholders said Allstate had falsely assured earlier in the year that claims had increased because of factors beyond its control, such as the economy and weather.

They said the stock fell after it became clear that loosened underwriting standards were the cause.

The insurance company based in Northbrook, Illinois, said it didn’t do anything wrong. However, as stated in the settlement, they decided to settle the case to avoid the difficulties, expenses, and uncertainty of going through a lawsuit.

On Wednesday, Allstate didn’t respond immediately when asked for a comment. Some of its biggest competitors in the auto insurance business are State Farm, Geico, and Progressive.

The lawsuit is led by pension and annuity funds associated with the Carpenter Funds of Oakland, California.

Their law firms plan to seek up to $22.5 million from the settlement for legal fees and up to $4.6 million for expenses.

If a judge approves, shareholders could receive around 46 cents per share on average for fees and expenses.

The case is called In re Allstate Corp (NYSE:ALL) Securities Litigation. It’s happening in the U.S. District Court in the Northern District of Illinois, and its number is 16-10510.