Garg Escalates Proxy War: Claims $700K/Week Burn, 6-8 Week Deadline, and Board's Private Admission of Mistake
BETR sits 15% above its 52-week low of $11.111.
Summary
Garg's latest proxy filing discloses new claims: $700K weekly burn on legal fees, a 6-8 week deadline to resolve the fight, and a private board admission that removing him may have been a mistake.
Key Events · Corporate Governance and Compliance · BETR
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Garg Claims $700K Weekly Legal Burn
Garg states the company is spending $700K per week on lawyers and proxy solicitation agents to entrench the current board and CEO Daniel Lewis.
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6-8 Week Deadline to Resolve Proxy Fight
Garg says he has six to eight weeks to resolve the consent solicitation before the ongoing public noise causes lasting damage to the business.
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Board Privately Admitted Mistake
Garg claims board members told him at a lunch meeting they 'might have made a mistake' in removing him, but cannot reverse course due to class action lawsuit risk.
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Voting Power Dispute
Garg alleges the company's counsel counted his unexercised options as voting shares, inflating his apparent voting power in the consent solicitation.
Analysis · BETR · Finance
Vishal Garg's latest DFAN14A adds new, specific claims to the ongoing proxy contest: the company is burning $700K per week on legal and proxy solicitation fees, he has only six to eight weeks to resolve the fight before the noise damages the business, and board members privately told him they 'might have made a mistake' but cannot reverse course due to class action lawsuit risk. These are material new details that sharpen the stakes for shareholders deciding whether to support Garg's consent solicitation to remove five directors. The filing also reveals Garg's claim that the company's counsel improperly counted his unexercised options as voting shares, which he says inflated his apparent voting power. For a company with a $246M market cap and a stock down roughly 50% since the board's actions, these disclosures directly bear on the outcome of a contested board election that will determine the company's strategic direction.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 35.7% of the 1694 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.10%. 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 $12.81 on NASDAQ in the Finance sector, with a market capitalization of approximately $246.2M. The 52-week trading range was $11.11 to $94.06. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.