Egan-Jones Examines Shareholder Verdict in Better Home & Finance Contest
Egan-Jones published commentary on the settled consent contest at Better Home & Finance, where shareholders voted to reconstitute the board in favor of the Garg Group, removing five of eight directors including Interim CEO Daniel Lewis. The proxy firm had recommended FOR the solicitation, citing a 14% two-year TSR under founder Vishal Garg that topped its peer group and questioning the board's process for his removal. Better's stock fell roughly 53% in the five weeks after Garg's ouster.
Key figures
- Directors removed
- 5
- Stock decline post removal
- approximately 53%
- Tsr two years pre departure
- 14%
- Board seats after reconstitution
- 5
AI analysis
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