Better's Special Committee Escalates Proxy War: Details $15M+ Advisory Offer to Garg and New Delaware Suit
BETR is trading near its 52-week low of $11.111 (7.9% above the low) on elevated volume (1.9× avg).
Summary
Better's Special Committee filed an amended consent revocation statement revealing the Board offered Garg a $15M+ advisory role three days after firing him, while Garg filed a new Delaware suit to invalidate the poison pill. The proxy war has escalated into multi-front litigation.
Key Events · Legal and Risk Events · BETR
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Board Offered Garg $15M+ Advisory Package
Three days after terminating Garg on August 3, the Board offered him a Vice Chairman and advisor role including $750,000 annually in cash and 875,000 shares valued at more than $15 million at the time.
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Garg Files Sealed Delaware Suit
On August 25, Garg commenced a Delaware Chancery Court action against the Company, each Board member except himself, and Computershare, challenging the poison pill adopted August 20. The complaint was filed under seal.
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TRO Hearing Held August 26
The federal court in the Southern District of New York held a hearing on the Company's motion for a temporary restraining order on August 26, the same day this amendment was filed.
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Voting Threshold Set at 13.1M Votes
Garg's proposals require 13,103,411 votes to pass, based on 13,256,037 Class A shares (1 vote each) and 4,316,928 Class B shares (3 votes each) as of the August 21 record date.
Analysis · BETR · Finance
This amended consent revocation statement reveals that the Board offered former CEO Vishal Garg a Vice Chairman and advisor package worth more than $15 million just three days after terminating him — a fact that cuts against the Board's narrative that Garg was unfit to lead. The filing also confirms Garg filed a sealed Delaware Chancery Court action on August 25 challenging the poison pill, and that a TRO hearing occurred on August 26. The proxy war has now escalated into multi-front litigation in both federal and Delaware courts, with control of the company hanging in the balance. The specific voting threshold of 13,103,411 votes needed for Garg's proposals to pass gives stockholders a concrete number to evaluate the contest.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 41.1% of the 372 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BETR was trading at $11.99 on NASDAQ in the Finance sector, with a market capitalization of approximately $233.7M. The 52-week trading range was $11.11 to $94.06. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.