Better Home & Finance says board fires CEO Vishal Garg amid control push
BETR•Garg seeks to regain control
Garg is seeking to regain control and urged five directors to resign to restore effective control to him.
Board terminates Garg as CEO over governance concerns
Better board voted unanimously, excluding Vishal Garg, to terminate him as CEO over concerns about judgment, temperament and credibility.
The board cited cumulative GAAP net losses exceeding $1.5 billion since 2022, with the stock down more than 90% under Garg.
Delay in Form 10-Q filing and possible securities law issues
The board blamed a delayed Form 10-Q filing on Garg’s refusal to sign required representation letters.
Directors reviewed communications that counsel believes may indicate potential U.S. securities law violations involving Garg. Shareholders need take no action.
