Federal Court Allows Abacus Lawsuit Against Coventry to Proceed

Abacus Global Management announced a favorable ruling from the U.S. District Court, Middle District of Florida, which denied Coventry First LLC's motion to dismiss Abacus's lawsuit. The court found Abacus plausibly alleged defamation and anticompetitive conduct, allowing the case to proceed to depositions of top Coventry executives. Abacus is seeking hundreds of millions in economic and punitive damages, alleging Coventry engaged in a "scheme to destroy Abacus" by disseminating false and misleading information to manipulate market sentiment.