Special Committee of Better Home & Finance Urges Shareholders to Reject Former CEO Vishal Garg’s Campaign to Seize Control of the Company
The Special Committee of the Board is urging shareholders to reject former CEO Vishal Garg’s consent solicitation to remove five directors and regain control, characterizing his campaign as self-serving and a threat to the company's progress. The Board alleges that under Garg's leadership the company accumulated over $2 billion in net losses and lost more than 90% of its value, noting it has filed a legal complaint against him and adopted a shareholder rights plan to block his efforts.
Key figures
- Revenue
- $72 million
- Guidance
- Q3 Adjusted EBITDA loss of $15 million to $18 million
- Loan volume miss
- 40%
- Public value loss
- 90%
- Net losses prior tenure
- $2 billion
- Annualized cost savings target
- $45 million
AI analysis
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