1. Coventry seeks to dismiss Abacus's lawsuit filed August 29, 2025. 2. Lapetus, Abacus's key provider, shut down operations on August 31, 2025. 3. Coventry claims Abacus's suit aims to silence criticism and debate. 4. Focus on transparency and reliability of life expectancy estimates is emphasized. 5. Debate on life settlement practices is essential for market interest.
The lawsuit against Abacus raises concerns about their operational integrity. Historical examples show litigation can decrease stock value due to investor uncertainty.
Legal challenges can significantly impact investor confidence and stock performance. The relevance is high due to operational ties with Lapetus.
Immediate investor sentiment may react negatively due to legal troubles. However, resolutions may stabilize stock as clarity emerges.
Motion underscores that Abacus's claims lack merit as Lapetus, its key life expectancy provider, shut its doors August 31
FORT WASHINGTON, Pa., Sept. 2, 2025 /PRNewswire/ -- Coventry First LLC ("Coventry") and its Co-Founder and Executive Chairman, Alan H. Buerger, today announced that they have filed a Motion to Dismiss the complaint brought by Abacus Global Management, Inc. ("Abacus") (NASDAQ:ABL) in the U.S. District Court for the Middle District of Florida on August 29, 2025. The full Complaint can be found here.
In the filing, Coventry and Mr. Buerger express their view that Abacus's lawsuit is an effort to silence constitutionally protected debate. As the Motion states:
"The First Amendment expresses 'a profound national commitment to the principle that debate on public issues should be uninhibited, robust, and wide-open.' Abacus, however, seeks to flip that principle on its head. Faced with criticism about serious problems of its own making, Abacus brought this meritless lawsuit to muzzle those who have highlighted the truth or expressed their constitutionally protected opinions. That it cannot do."
The Motion also highlights that Abacus invested in and relied heavily upon Lapetus Solutions, Inc. ("Lapetus") as its primary life expectancy provider — but Lapetus publicly announced that it shut down all operations effective August 31, 2025. This development underscores the concerns raised regarding Abacus's practices and the importance of open debate about the life settlement industry.
"Abacus's complaint is an attempt to silence robust debate on important issues affecting the life settlement industry, including the reliability of life expectancy estimates," said Mr. Buerger. "Transparent disclosures advance the interests of investors, regulators, and the life settlement market as a whole, and the First Amendment protects the right to voice opinions and concerns, particularly on matters of such public interest."
About Coventry
Coventry is the leader and creator of the secondary market for life insurance. For more than 20 years, we have been driving the industry forward and expanding opportunities for life insurance policyowners. Coventry's deep experience combined with a fierce commitment to consumer rights makes Coventry the clear market leader, a position we use to raise industry standards and expand consumer choice. To date, we have delivered more than $6 billion to policyowners who no longer have a need for their policies. To learn more about Coventry, please visit Coventry.com.
Media Contacts:
Prosek Partners for Coventry
Andy Merrill / Kiki Tarkhan
Pro-Coventry@prosek.com
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SOURCE Coventry