Latest news with #AbacusGlobalManagement
Associated Press
14-06-2025
- Business
- Associated Press
Abacus Global Management, Inc. (ABL) Shares Tumble Following Second Morpheus Report
SAN FRANCISCO, June 13, 2025 (GLOBE NEWSWIRE) -- Investors in Abacus Global Management, Inc. (NASDAQ: ABL) experienced another substantial decline in share price today following the release of a second scathing report from Morpheus Research. Morpheus, a collective of financial analysts known for their focus on uncovering alleged fraud and corporate malfeasance, has now published two critical analyses of Abacus within a week, alleging the life settlements company has engaged in improper accounting. Hagens Berman is investigating Morpheus Research's allegations and urges Abacus investors who suffered substantial losses to submit your losses now . The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys. Visit: Contact the Firm Now: [email protected] 844-916-0895 The Abacus Global Management, Inc. (ABL) Investigation: Abacus represents itself as a 'leading' financial services company specializing in alternative asset management, data driven wealth solutions, technology innovations, and institutional services. Under relevant accounting rules, Abacus is required to report the value of its assets in conformity with generally accepted accounting principles, which the company has consistently assured investors that it has. Abacus' assurances may have come into question on June 4, 2025, when Morpheus Research published its initial report, alleging that Abacus was engaged in an 'accounting scheme' within its life settlements portfolio. The report claimed Abacus manufactured 'fake revenue' by aggressively using 'mark-to-model' accounting and systematically underestimating the life expectancies of insured individuals. Morpheus further highlighted Abacus's reliance on Lapetus Solutions for life expectancy estimates, suggesting these calculations were questionable and that former employees and industry experts had raised concerns about their accuracy, contributing to an overvaluation of the company's assets. The information revealed in the initial Morpheus report caused Abacus Global's shares to decline over 20% decline in a single trading day. On June 10, 2025, Abacus published its purported rebuttal of Morpheus' June 4, 2025 forensic report and primarily reported that it retained an independent actuarial firm (Lewis and Ellis) who 'has maintained a sterling reputation' to vet the company's balance sheet in an effort to debunk Morpheus' conclusions. But, on June 12, 2025, Morpheus issued a second follow up report, asserting that Abacus's rebuttal to the initial claims was inadequate and contradictory to its own SEC filings. The follow report significantly escalated its allegations by presenting what Morpheus claimed was new evidence of undisclosed related-party dealings involving Abacus insiders and raising concerns about 'Carlisle Round-Tripping Policies,' thereby intensifying the scrutiny on the company's financial practices. Morpheus also cast doubt on Abacus's assertion that third-party validator Lewis & Ellis corroborated its valuations, noting Lewis & Ellis' prior involvement with another fund that faced lawsuits over flawed valuations and highlighting that Lewis & Ellis had previously relied on inputs provided by the fund itself. These events caused the price of Abacus shares to decline sharply. 'We're investigating whether Abacus may have misled investors about its asset values and, more recently, about the independence of Lewis and Ellis who purportedly vetted the company's asset valuations,' said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in Abacus Global Management and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now » If you'd like more information and answers to frequently asked questions about the Abacus Global investigation, read more » Whistleblowers: Persons with non-public information regarding Abacus Global Management should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected] . About Hagens Berman Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at . Follow the firm for updates and news at @ClassActionLaw . Contact: Reed Kathrein, 844-916-0895
Associated Press
08-06-2025
- Business
- Associated Press
ABL Investors Have Opportunity to Join Abacus Global Management, Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)--Jun 7, 2025-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Abacus Global Management, Inc. ('Abacus' or 'the Company') (NASDAQ: ABL ) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Abacus is the subject of a report issued by Morpheus Research on June 4, 2025, titled: 'Abacus Global Management: This $794 Million SPAC Is Yet Another Life Settlements Accounting Scheme Manufacturing Fake Revenue by Systematically Underestimating When People Will Die.' According to the report, the Company changed its portfolio valuation methodology to make it appear more profitable than it actually is. The report also alleges that the Company uses unusual methodologies to calculate life expectancy estimates and its co-founders have 'red flags' in their past. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at [email protected]. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. View source version on CONTACT: The Schall Law Firm Brian Schall, Esq. 310-301-3335 [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: The Schall Law Firm Copyright Business Wire 2025. PUB: 06/07/2025 04:05 PM/DISC: 06/07/2025 04:05 PM
Associated Press
07-06-2025
- Business
- Associated Press
Kaplan Fox Reminds Investors of Abacus Global Management, Inc. (ABL) to an Investigation of Potential Securities Law Violations
NEW YORK, NY - June 7, 2025 ( NEWMEDIAWIRE ) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Abacus Global Management, Inc. ('Abacus' or the 'Company') (NASDAQ: ABL). CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THIS INVESTIGATION If you are an Abacus investor and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (212) 329-8571. On June 4, 2025, after the market opened, Morpheus Research ('The Report') published a report titled 'This $740 Million SPAC Is Yet Another Life Settlements Accounting Scheme Manufacturing Fake Revenue By Systematically Underestimating When People Will Die.' The Report alleges that '[o]ur investigation uncovered that Abacus' 'too good to be true' returns, which drive Abacus' revenues, are primarily manufactured by the systematic overvaluation of its assets through an opaque 'mark to model' accounting scheme that closely mirrors past blow-ups in the life settlements industry.' Following this news, the price of Abacus stock declined from an opening price of $7.53 per share to close on June 4, 2025 at $6.00 per share, a decline of $1.53, or over 20%, on heavier than average volume. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this investigation, please contact: CONTACT: Jeffrey P. Campisi KAPLAN FOX & KILSHEIMER LLP 800 Third Avenue, 38th Floor New York, New York 10022 (212) 329-8571 [email protected] Laurence D. King KAPLAN FOX & KILSHEIMER LLP 1999 Harrison Street, Suite 1560 Oakland, California 94612 (415) 772-4704 [email protected] Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client. View the original release on
Business Insider
07-06-2025
- Business
- Business Insider
Abacus Global authorizes new $20M share repurchase program
Abacus Global (ABL) Management announced that its Board of Directors has authorized a new $20M share repurchase program, effective June 5, 2025 for over a period of up to 18 months, as well as recent Form 4 and other employee share purchases totaling over $2M. 'While it is unfortunate that Abacus Global Management has been subject to a short attack, we believe our artificially depressed share price represents an excellent buying opportunity for the company,' said Jay Jackson, Chief Executive Officer of Abacus Global Management. 'We believe this is validated by our newly authorized share repurchase program, reflecting our Board's continued confidence in our business model and strength of our balance sheet, and also by our employees who have spent over $2 million combined of their own money in recent share purchases. Our returns and valuation are audited, and consistent with a 20-year track record of generating positive revenue. We will not allow this distraction to affect our continued growth and our day-to-day operations.' The company added: 'Abacus is committed to pursuing all available legal remedies against the individuals and entities responsible for orchestrating and disseminating the false and misleading short attack.'
Yahoo
06-06-2025
- Business
- Yahoo
Abacus Global Management Announces Share Repurchase Program; Insider Buying
ORLANDO, Fla., June 06, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ('Abacus' or the 'Company') (NASDAQ: ABL), a leader in the alternative asset management space, today announced that its Board of Directors has authorized a new $20 million share repurchase program, effective June 5, 2025 for over a period of up to 18 months, as well as recent Form 4 and other employee share purchases totaling over $2 million. "While it is unfortunate that Abacus Global Management has been subject to a short attack, we believe our artificially depressed share price represents an excellent buying opportunity for the Company,' said Jay Jackson, Chief Executive Officer of Abacus Global Management. 'We believe this is validated by our newly authorized share repurchase program, reflecting our Board's continued confidence in our business model and strength of our balance sheet, and also by our employees who have spent over $2 million combined of their own money in recent share purchases. Our returns and valuation are audited, and consistent with a 20-year track record of generating positive revenue. We will not allow this distraction to affect our continued growth and our day-to-day operations.' During the pendency of the stock repurchase program, the Company may repurchase shares from time to time through various methods, including in open market transactions, block trades, accelerated share repurchases, privately negotiated transactions, derivative transactions or otherwise, certain of which may be made pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in compliance with applicable state and federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including our assessment of the intrinsic value of the Company's common stock, the market price of the Company's common stock, general market and economic conditions, available liquidity, compliance with the Company's debt and other agreements, applicable legal requirements, the nature of other investment opportunities available to the Company, and other considerations. The Company is not obligated to purchase any shares under the repurchase program, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund the repurchases by using cash on hand and expected free cash flow to be generated in the future. Abacus is committed to pursuing all available legal remedies against the individuals and entities responsible for orchestrating and disseminating the false and misleading short attack. Forward-Looking Statements All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus's financial and operational outlook; Abacus's operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus's ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'estimate,' 'expect,' 'intend,' 'anticipate,' 'goals,' 'prospects,' 'will,' 'would,' 'will continue,' 'will likely result,' and similar expressions (including the negative versions of such words or expressions). While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus's loss reserves are bases on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus's insurance policies; the geographic concentration of Abacus's business; the cyclical nature of Abacus's industry; the impact of regulation on Abacus's business; the effects of competition on Abacus's business; the failure of Abacus's relationships with independent agencies; the failure to meet Abacus's investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus's control environment, including the identification of control deficiencies. These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations. About Abacus Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide. Contacts: Investor Relations Robert F. Phillips – SVP Investor Relations and Corporate Affairsrob@ 290-1198 David Jackson – Director of IR/Capital Marketsdavid@ 299-0716 Abacus Global Management Public Relations press@
