In a release, the league called the foul "unnecessary and excessive contact," and cited "substantial injury" to Caruso as a factor in the ruling. Caruso will undergo surgery to repair the fracture on Monday and be re-evaluated in six to eight weeks.
Allen was ejected from Friday's game, which the Bucks won 94-90, after being assessed a Flagrant 2, and missed Milwaukee's game against the Kings on Saturday with hip soreness.
The suspension, which Allen will serve during Wednesday's game between the Bucks and Cavaliers, will cost the Milwaukee guard $27,963, according to ESPN Front Office Insider Bobby Marks.
Reports of the suspension came down the pipe during Bulls coach Billy Donovan's media session ahead of Sunday's game against the Magic. Donovan, who forcefully rebuked the play Friday night, said he had a discussion with the league about the foul, but declined to share details.
Now, the Bulls are moving on.
"Nothing is changing from what happened the other night to where we are now. And the best thing we can do as a team is just move on. That's really the only thing we have control over," Donovan said. "I'm not gonna sit up here and say what the league should or should not do, or what's sufficient or not sufficient.
"Whatever that decision is we'll accept it and we'll move on. I feel bad for Alex that he's gonna be out this long more so than anything else. Maybe if he didn't break it and fell down and was able to get back up and play tonight people would maybe have different feelings. But, for me, I can't waste any time on that. Listen, I think, just in my conversation (with the NBA), they were great. And I respect whatever decision they feel is best for the entire league."