Abacus Global sues Coventry, chairman Alan Buerger for defamation

Abacus Global (ABL) provided the following statement: “Coventry First LLC, parent company of life settlements provider Coventry Direct, and its Chairman Alan Buerger engaged in a concentrated effort to manipulate market sentiment about its biggest competitor, Abacus Global Management, 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, according to a lawsuit filed last night by Abacus in Florida’s Ninth Circuit Court. The lawsuit alleges that a short report published by Morpheus Research on June 4, 2025 was Coventry’s latest attack on Abacus. Coventry will be responsible for hundreds of millions of dollars in damages should Abacus prove that Morpheus was acting as Coventry and Buerger’s willing partner and megaphone for the same defamatory statements Coventry was circulating about Abacus’ valuation methodology, statements regulators and market makers had ignored for months. The lawsuit details a multi-year effort by Coventry and its Chairman and founder, Alan Buerger, to cast doubt on Abacus’ valuation practices and stock price. Unable to compete with Abacus’ transparent pricing model and performance, Coventry and Buerger devised a scheme to undermine Abacus through false and misleading statements to convince the market that Abacus pays policyholders too much for their policies, causing an overvaluation of Abacus’ assets. This is more than idle talk: they have tried to convince anyone who will listen that the biggest threat to Coventry’s business is in fact illegitimate.”