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NEW YORK (

TheStreet

) --

Citigroup

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and

Deutsche Bank

(DB) - Get Deutsche Bank AG Report

have been tapped in a lawsuit filed by

Allstate

(ALL) - Get Allstate Corporation Report

over what the insurer characterizes as "misinformation" concerning mortgage-backed securities.

The property and casualty insurer is claiming that it bought $200 million residential mortgage-backed securities (RMBS) from Citigroup and $185 million from the Deutsche Bank based on what Allstate claims was "false information" over underwriting standards and value of the securities.

Allstate has also sued

JPMorgan Chase

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(JPM) - Get JPMorgan Chase & Co. Report

and

Bank of America

(BAC) - Get Bank of America Corp Report

in similar lawsuits. The insurer is trying to recoup $700 million of mortgage- backed securities from JPMorgan and $700 million from Bank of America.

The insurer is claiming damages rescission, monetary losses, attorney's fees and costs, and prejudgment interest, according to a statement.

--Written by Maria Woehr in New York.

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