Coventry and Alan Buerger Move to Dismiss Abacus Lawsuit

Rhea-AI Summary

Coventry First LLC and 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 argues that Abacus's lawsuit attempts to suppress constitutionally protected debate about life settlement industry practices.

A significant development supporting the motion is that Lapetus Solutions, Abacus's primary life expectancy provider, has ceased all operations as of August 31, 2025. Buerger emphasizes that transparent discussions about life expectancy estimates and industry practices are crucial for investors, regulators, and the overall life settlement market.

Positive

• None.

Negative

• Abacus's key life expectancy provider Lapetus has shut down operations
• Legal challenges and potential litigation costs for the company

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 

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 Abacus Global Management (NASDAQ: ABL) and Coventry First about?

The lawsuit involves Abacus attempting to silence debate about industry practices, with Coventry and Alan Buerger filing a Motion to Dismiss, arguing it violates First Amendment rights for protected debate on public issues.

When did Lapetus Solutions, Abacus's life expectancy provider, cease operations?

Lapetus Solutions, which was Abacus's primary life expectancy provider, shut down all operations effective August 31, 2025.

What is the significance of Lapetus shutting down for Abacus (NASDAQ: ABL)?

The shutdown of Lapetus is significant as they were Abacus's primary life expectancy provider, potentially impacting their ability to assess life settlement valuations and undermining their business practices.

Where was the Motion to Dismiss filed by Coventry and Alan Buerger?

The Motion to Dismiss was filed in the U.S. District Court for the Middle District of Florida in response to Abacus's lawsuit from August 29, 2025.

What are the main arguments in Coventry's Motion to Dismiss against Abacus (ABL)?

Coventry argues that Abacus's lawsuit is meritless and attempts to suppress constitutionally protected debate, violating First Amendment principles of open discussion about public issues in the life settlement industry.