Last Month, the Court Ruled Plausible Evidence of a “scheme to destroy Abacus through suggestions of malfeasance” Exists – Depositions, including Chairman Buerger and Coventry Executive Team to Move Ahead

Abacus Alleged a Years-Long Campaign to Systematically Disseminate False and Misleading Information About the Publicly-Traded Company

Company Website: https://abacusgm.com
ORLANDO, Fla. -- (Business Wire)

Abacus Global Management, Inc. (“Abacus”) (NYSE: ABX), a leader in the alternative asset management space, today issued the following statement regarding its ongoing defamation and anticompetitive conduct lawsuit against Coventry First LLC, parent company of life settlements provider Coventry Direct (“Coventry”). The U.S. District Court, Middle District of Florida Orlando Division, has allowed the case to proceed via a ruling in June, and depositions are ongoing. The court ruled Abacus’s filings were plausible submissions to prove a scheme to destroy Abacus through suggestions of malfeasance.

In response, Coventry today released a handful of out of context documents that they claim prove their conspiracy theories about Abacus and life expectancy provider Lapetus Solutions that Coventry put out of business last year. The documents were attached to Coventry’s affirmative defenses and counterclaims to Abacus’s five-count complaint; notably, Coventry does not claim in its filing that Abacus engaged in anticompetitive conduct or unfair and deceptive business practice. In any event, none of these documents (or any others in the case) support Coventry’s wild claims that Abacus was using Lapetus to distort the market. The reality is that Coventry has no evidence that Lapetus systematically underestimated life expectancies, let alone deliberately, and Abacus’s financial statements and internal controls over financial reporting have been found “in compliance with GAAP by a respected public company auditor in every annual audit.”

“Today’s actions are just another effort to publicly distract from the court's unambiguous ruling that the case will move ahead, which found that Abacus alleged plausible claims of defamation and anticompetitive conduct,” said Abacus CEO Jay Jackson. “Damning deposition testimony is pouring out weekly, including from Morpheus Research, who noted Alan Buerger was 'succeeding at catalyzing a public conversation…about Abacus' and 'had incentive to make Abacus look bad.' Coventry is backed into a corner, so it is doing anything it can to try to get off the hook for its defamatory and anti-competitive practices, and the court and the market aren't going to be fooled. We all know how this game is played – go through internal messages and cherry-pick non-material, informal dialogue or pull messages out of context in an attempt to repackage the same tired, discarded lies. In the end, the underlying facts are going to prove a gross defamation scheme of monumental proportions enacted by Coventry."

In July 2025, Abacus sued Coventry and its Chairman Buerger, detailing a concentrated effort to manipulate market sentiment about its biggest competitor, Abacus, through a systematic campaign to disseminate false and misleading statements about Abacus to regulators, auditors, market analysts, customers, investors and the public, causing confusion, concern, and financial injury to Abacus, its clients, and its shareholders. The lawsuit alleged a short report published by Morpheus Research on June 4, 2025 was also a Coventry attack on Abacus.

The lawsuit, filed last year, details the fundamental flaw at the center of Coventry’s false claims, some of which were regurgitated today: Coventry has not identified a single instance of wrongdoing, let alone fraud, by anyone at Abacus or the life expectancy provider Coventry put out of business last year: Lapetus Solutions. And Coventry continues to omit the fact that it was Lapetus’s biggest customer before Abacus went public.

Abacus is represented in the lawsuit by Quinn Emanuel Urquhart & Sullivan LLP.

Abacus is seeking hundreds of millions in damages, some of which are still accruing, from the harms to its reputation, its customer base, and its relationships with current and potential investors.

The original lawsuit can be read here.

About Abacus

Abacus Global Management (NYSE: ABX) is a leading financial services company specializing in alternative asset management, data‑driven wealth solutions, technology innovations, and institutional services. With a focus on longevity‑based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide.

For more information, please visit www.abacusgm.com.

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Contacts:

Investor Relations
David Jackson – Head of Investor Relations
david@abacusgm.com | (321) 299‑0716

Public Relations
press@abacusgm.com

Source: Abacus Global Management, Inc.