NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — Wolf Popper LLP is investigating potential claims on behalf of purchasers of Abacus Global Management, Inc. (“Abacus”) common stock (NASDAQ: ABL).
On August 30, 2022, Abacus Settlements, LLC and Longevity Market Assets, LLC and East Resources Acquisition Corporation announced a $618 million de-SPAC deal. The deal was approved by East Resources’ shareholders and closed on July 3, 2023. Abacus is an alternative asset manager specializing in life insurance products.
Early in the trading day on June 4, 2025, Morpheus Research published a short seller report entitled Abacus Global Management: This $794 Million SPAC Is Yet Another Life Settlements Accounting Scheme Manufacturing Fake Revenue By Systematically Underestimating When People Will Die. The report alleges Abacus incorporated a change in its portfolio valuation methodology that made Abacus appear more profitable. Other allegations in the report include Abacus’ use of Lapetus Solutions for calculating life expectancy estimates. Former Abacus employees and industry experts questioned Lapetus’ calculations. In addition, the report identified historical red flags related to Abacus’ co-founders. On this news, Abacus’ stock price fell $1.64 per share to $6.00 on June 4, 2025, down 21.5% on very heavy volume.
On June 12, 2025, Morpheus Research put out a second report that responded to Abacus’ June 10, 2025 press release that attempted to explain Abacus’ position. Morpheus said Abacus failed to refute the allegations and contradicted Abacus’ own statements in its Securities and Exchange Commission filings. Morpheus Research also alleged Abacus insiders engaged in undisclosed related party dealings.
Investors who lost over $50,000 trading in Abacus common stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or [email protected].
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by courts that have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
May Be Considered Attorney Advertising in Certain Jurisdictions.
Prior Results Do Not Guarantee a Similar Outcome.
Wolf Popper LLP
Adam Savett
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9655
Email: [email protected]
