Abacus defamation suit against Coventry advances in federal court

Abacus Global Management (NYSE: ABX) issued a statement updating investors on its defamation and anticompetitive conduct lawsuit against Coventry First LLC and its chairman, Alan Buerger, after a U.S. District Court in the Middle District of Florida allowed the case to proceed following a June ruling.

The court found that Abacus submitted plausible claims of a "scheme to destroy Abacus through suggestions of malfeasance." Depositions are ongoing and include Buerger and members of the Coventry executive team.

Abacus filed the lawsuit in July 2025, alleging Coventry conducted a campaign to disseminate false and misleading statements about Abacus to regulators, auditors, analysts, customers, and investors. The suit also alleged that a short report published by Morpheus Research on June 4, 2025 was part of that effort. Abacus is seeking hundreds of millions of dollars in damages.

In response to the update, Coventry released documents it claims support its position regarding Abacus and life expectancy provider Lapetus Solutions. Abacus disputed the relevance of those documents, stating its financial statements have been found "in compliance with GAAP by a respected public company auditor in every annual audit."

"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,'" said Abacus CEO Jay Jackson.

Abacus is represented by Quinn Emanuel Urquhart & Sullivan LLP. The information above is based on a press release issued by Abacus Global Management.

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