Garg Group claims 46% voting support in Better Home board dispute

Vishal Garg, founder and former CEO of Better Home & Finance Corporation (Nasdaq: BETR), is claiming his group has secured consents representing more than 46% of the company's voting power in an ongoing effort to remove five sitting board members.

Garg, who leads what he calls the "Garg Group," is conducting a consent solicitation to remove interim CEO Daniel Lewis, Harit Talwar, Arnaud Massenet, Bhaskar Menon, and Prabhu Narasimhan from Better's board of directors.

According to a statement issued by Garg, his proxy solicitor met with Better's General Counsel, Paula Tuffin, presenting evidence of the claimed voting support. Garg said the company previously issued statements alleging the group had "failed to demonstrate almost any support from public shareholders," which he characterized as inaccurate.

Garg is calling on the board to issue corrective disclosures, stating that Better has not identified any specific consents being challenged or provided details about voting calculations it may dispute. Better has not issued a public correction as of the time of this press release.

The Garg Group has filed a definitive consent solicitation statement with the SEC. The group's preliminary tabulation has not been verified by an independent inspector, and results may change due to revocations prior to formal delivery of consents.

If the consent solicitation succeeds, Garg has indicated he would nominate three independent director candidates — Bing Gordon, David Heidecorn, and Steve Sarracino — though no formal agreements have been reached with them and their appointments would require approval from a majority of board members.

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