Law Offices of Howard G. Smith announces an investigation on behalf of Abacus Global Management, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL) investors concerning the Company’s possible violations of federal securities laws.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN ABACUS GLOBAL MANAGEMENT, INC. (ABL), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
What Happened?
On June 4, 2025, Morpheus Research published a report alleging, among other things, that Abacus uses fraudulent life expectancy data to drive revenues. Specifically, the report alleges “contrary to Abacus’ disclosures to the SEC” Abacus relies heavily on life expectancy (“LE”) reports generated by “AI powered” Lapetus Solutions. The report states former Abacus employees revealed the Company “built Lapetus LEs into… the proprietary pricing tool that Abacus made” and “would not gather the other life expectancy info.” The report asserts “Abacus’ reliance on Lapetus to value its portfolio presents a material risk to the $446 million in claimed life settlements on its books as of Q1 2025” because “[t]he indicative value on a Lapetus LE is 50% higher than with the other LE providers.”
On this news, Abacus’s stock price fell $1.64, or 21.5%, to close at $6.00 per share on June 4, 2025, thereby injuring investors.
Contact Us To Participate or Learn More:
If you purchased Abacus securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250605325063/en/
Contacts
Contact Us:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
