The Home Improvement star has levied a lawsuit for that amount against a 72-year-old retired librarian.
Seems Allen isn't looking too kindly on comments Henry Armstrong made to the National Enquirer back in December regarding a traffic accident in which the actor smacked into the librarian.
Armstrong alleged that he was whacked by Allen's Ferrari last year as he crossed the street in Studio City, California. He says he was thrown into the air and then crashed down on the car.
"He stood over me as I lay on the ground in agony," the suit quotes Armstrong as telling the Enquirer. "He was bleary-eyed and unsteady on his feet, and he never uttered a word, never mind said sorry."
Allen claims those remarks were libelous, falsely portraying him as "cruel and heartless and unconcerned with the suffering of a person he allegedly injured," according to the complaint filed Tuesday in Michigan.
The comments also imply Allen was under the influence of drugs or alcohol, the suit contends.
"The plaintiff's business as a well-known and well-respected actor, entertainer, author, commercial spokesperson and product endorser has been damaged," the lawsuit states.
Of course, Allen has had some well-documented battles with substance abuse. Two months after the Armstrong incident, Allen was was arrested for drunken driving near his home in suburban Detroit.
For the record, Allen was not ticketed for hitting Armstrong, but the librarian did file a personal-injury lawsuit against the actor seeking unspecified damages.