/C O R R E C T I O N -- Coventry/

Rhea-AI Summary

Coventry First LLC and its Executive Chairman Alan H. Buerger have filed a Motion to Dismiss a lawsuit brought by Abacus Global Management (NASDAQ: ABL) in the U.S. District Court for the Middle District of Florida. The motion, filed on September 2, 2025, argues that Abacus's lawsuit attempts to suppress constitutionally protected debate.

A key development supporting Coventry's position is that Lapetus Solutions, Abacus's primary life expectancy provider, ceased operations on August 31, 2025. Buerger emphasizes that transparent discussion about life expectancy estimates and industry practices is crucial for investors, regulators, and the overall life settlement market.

Positive

• Motion to Dismiss highlights First Amendment protection for industry debate
• Development regarding Lapetus shutdown supports Coventry's position

Negative

• Legal dispute could create uncertainty for stakeholders
• Shutdown of Lapetus Solutions affects Abacus's life expectancy assessment capabilities

In the news release, Coventry and Alan Buerger Move to Dismiss Abacus Lawsuit, issued 02-Sep-2025 by Coventry over PR Newswire, we are advised by the company that the first paragraph, last sentence, should read "The full Motion to Dismiss" rather than "The full Complaint" as originally issued. The complete, corrected release follows:

Coventry and Alan Buerger Move to Dismiss Abacus Lawsuit

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 Motion to Dismiss 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 

View original content:https://www.prnewswire.com/news-releases/coventry-and-alan-buerger-move-to-dismiss-abacus-lawsuit-302544419.html

SOURCE Coventry

FAQ

What is the lawsuit between Coventry First and Abacus Global Management (NASDAQ: ABL) about?

The lawsuit involves Abacus (NASDAQ: ABL) attempting to silence Coventry's criticism about industry practices. Coventry filed a Motion to Dismiss on September 2, 2025, arguing the lawsuit aims to suppress constitutionally protected debate.

Why did Coventry file a Motion to Dismiss against Abacus's lawsuit?

Coventry filed the Motion to Dismiss arguing that Abacus's lawsuit is an attempt to silence constitutionally protected debate about life settlement industry practices and life expectancy estimates.

What happened to Lapetus Solutions and how does it affect Abacus (ABL)?

Lapetus Solutions, Abacus's primary life expectancy provider, shut down all operations on August 31, 2025, potentially impacting Abacus's ability to provide life expectancy estimates.

How does the First Amendment relate to Coventry's Motion to Dismiss against Abacus?

Coventry argues that their criticism of industry practices is protected under the First Amendment, which supports 'uninhibited, robust, and wide-open' debate on public issues.

What are the implications of this legal dispute for the life settlement industry?

The dispute highlights concerns about transparency in life expectancy estimates and industry practices, which affect investors, regulators, and the overall life settlement market.