Court Unseals Key Evidence in Coventry Filing Showing Abacus Global Management Relied on Short Lapetus Life Expectancy Estimates and Misled Investors
Newly unsealed court documents in the litigation between Coventry First and Abacus Global Management (ABX) allege that ABX relied on inaccurate life expectancy estimates from Lapetus Solutions with an Actual-to-Expected ratio of just 41.5%. The filings claim ABX misled investors regarding a Lewis & Ellis valuation report by manipulating discount rates and withholding longer life expectancy estimates, inflating policy valuations by millions of dollars.
Key figures
- Ae ratio
- 41.5%
- Credit union investments
- $500 million
AI analysis
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