Federal Court Finds Abacus Plausibly Alleged a "scheme to destroy Abacus" and Denies Coventry's Motion to Dismiss - 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
ORLANDO, Fla., June 26, 2026 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ("Abacus" or the "Company") (NYSE: ABX), a leader in the alternative asset management space, announced a favorable ruling from the U.S. District Court, Middle District of Florida Orlando Division today in Abacus's lawsuit against Coventry First LLC, parent company of life settlements provider Coventry Direct ("Coventry"), and its Chairman Alan Buerger. The Court's decision found that Abacus alleged plausible claims of defamation and anticompetitive conduct and denied Coventry's Motion to Dismiss. The case will now proceed with depositions of top Coventry executives, including Buerger, whom Abacus believes possess evidence of, in the Court's words, Coventry's "scheme to destroy Abacus." Today's ruling can be found here
In July 2025, Abacus sued Coventry and its Chairman Buerger, detailing a concentrated effort by Coventry and Buerger to manipulate market sentiment about its biggest competitor, Abacus, through a slew of false and misleading statements to regulators, auditors, market analysts, customers, investors and the public. This onslaught was designed to cause confusion, concern, and financial injury to Abacus, its clients, and its shareholders. Today's decision, finding that Abacus has "successfully pled defamation claims," allows the company to press its suit for economic and punitive damages, and to compensate itself for those reputational harms.
"The court wiped away any impediment to this case going forward and confirmed we've presented real, credible, and plausible information about a scheme to destroy Abacus through malfeasance," said Abacus Global Management CEO Jay Jackson. "Coventry has been losing market share because we offer policyholders better terms and more transparent pricing, so instead of competing, they tried to manipulate markets. Yet while we live in a world filled with people who profit from peddling materially false information, the court today stood up and said this case has merit and is moving ahead."
Now Abacus will have the chance to uncover the details of Coventry's attempts to obscure the bottom line of Abacus's success, as described in the Amended Complaint: "Coventry's false narrative attempts to project its own financial vulnerabilities onto Abacus, but the facts demonstrate otherwise. The market analysts who came to Abacus' defense... recognize the truth: Abacus' transparent approach is a ray of sunshine in an otherwise beleaguered industry, and that explains its rapid rise."
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
Today's ruling, which allows the lawsuit to advance, can be found 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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David Jackson - Managing Director of Investor Relations
david@abacusgm.com | (321) 299-0716
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