Better Home & Finance Holding Company (NASDAQ:BETR) said a special committee of its board has opened an investigation into allegations involving director and former chief executive Vishal Garg in connection with an ongoing proxy contest.
According to the company, independent counsel representing a former employee alleged that Garg offered company interests and property to former employees in exchange for their support in an effort to replace members of the board.
The allegations have not been established as fact. Better Home & Finance said that, if substantiated, the alleged conduct could raise questions regarding Garg’s fiduciary duties as a director, including restrictions on offering company assets or benefits in exchange for written consents in a proxy contest.
Special Committee Reviews Allegations
The company said Garg’s conduct has affected its ability to maximise the value of certain assets and claims. This represents the company’s position regarding the impact of the conduct under review.
Better Home & Finance did not provide a conclusion from the Special Committee’s investigation in the information supplied.
The Special Committee has recommended that shareholders sign and return the company’s white consent revocation card and disregard green consent cards distributed in connection with Garg’s solicitation.
Shareholders who previously signed a green consent card may revoke that consent by returning the white consent revocation card, according to the company.
The recommendation forms part of the company’s response to the proxy contest and represents the Special Committee’s position rather than an independent determination regarding the underlying allegations.
Company Filed Consent Revocation Statement in August
Better Home & Finance filed a definitive consent revocation statement with the U.S. Securities and Exchange Commission on August 28, 2026.
The filing was made in opposition to Garg’s solicitation of written shareholder consents seeking to remove members of the company’s board.
The investigation remains ongoing based on the information provided, and no finding that Garg breached his fiduciary duties was reported in the supplied material.
Better Home & Finance Holding Company stock price
