The Special Committee of the Board of Directors of Better Home & Finance Holding Company has opened an investigation into credible and serious allegations that its director and former CEO, Vishal Garg, sought to exchange Company interests and property to former employees who are Company shareholders in return for consents to his proposal to replace the Board of Directors. The allegations, brought to the Company by independent counsel for a former employee, raise significant issues of breach of fiduciary duties if true, and the Company said Garg is not entitled to promise Company assets, interests or benefits in exchange for written consents in his proxy contest. The Company added that Garg's conduct in this matter has already compromised its ability to maximize the value of certain assets and claims, and it expects all directors, including Garg, to abide by their duties of loyalty. The Special Committee unanimously recommends that shareholders sign, date and return the WHITE consent revocation card and disregard any green consent card received from Garg, and that shareholders who previously signed a green card may revoke that consent by returning the WHITE card. Better Home & Finance, which trades on NASDAQ under BETR, describes itself as the first AI-native mortgage and home equity finance platform and the first fintech to fund more than $110 billion in loan volume.
Better Home & Finance Holding CompanyBoard special committee investigates director Vishal Garg over breach-of-fiduciary-duty allegations tied to his proxy contest, compromising asset value.
CTBC Financial Holding Co Ltd