NEW YORK, July 7, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Abacus Global Management, Inc. ("Abacus" or the "Company") (NASDAQ: ABL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Abacus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 4, 2025, Morpheus Research ("Morpheus") published a 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 that Abacus incorporated a change in its portfolio valuation methodology to make Abacus appear more profitable that it actually is. The report also alleges that Abacus uses questionable methodologies for calculating life expectancy estimates and identified historical "red flags" associated with Abacus's co-founders.
On this news, Abacus's stock price fell $1.64 per share, or 21.47%, to close at $6.00 per share on June 5, 2025.
Abacus responded by retaining independent actuarial firm Lewis & Ellis to review its balance sheet and attempted to reassure investors of its compliance with accounting standards. However, Morpheus published a second report on June 12, 2025, alleging that Abacus's rebuttal was inconsistent with its own U.S. Securities and Exchange Commission filings and introducing new claims of undisclosed related-party transactions and "Carlisle Round-Tripping Policies" involving company insiders. Morpheus also questioned the independence of Lewis & Ellis, citing its prior involvement in other disputed valuations.
On this news, Abacus's stock price fell $0.29 per share, or 4.73%, to close at $5.84 per share on June 12, 2025.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
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