Glass Lewis Joins ISS in Recommending Shareholders Revoke Consent Against Garg's Board Takeover Bid
BETR is trading near its 52-week low of $11.111 (11% above the low).
Summary
Glass Lewis became the second proxy advisor to recommend shareholders revoke consent against Vishal Garg's board takeover campaign, joining ISS. The filing also reveals Garg missed his third deadline and the company is advancing its U.K. bank sale and wholesale program launch.
Key Events · Corporate Governance and Compliance · BETR
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Glass Lewis Recommends Revoking Consent
Glass Lewis, the second leading independent proxy advisor, recommended shareholders oppose Garg's campaign and revoke consent on the WHITE card, joining ISS. Glass Lewis concluded Garg 'has not presented a sufficiently compelling or consistent case' for board change.
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Garg Misses Third Deadline
Garg missed his third self-imposed deadline to deliver written consents on September 8, 2026, after previously missing two deadlines in August. The Special Committee noted he has failed to convince two leading proxy advisors of his cause.
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Operational Progress Disclosed
The company disclosed it is advancing the process to sell its U.K.-based bank and preparing to launch the Better wholesale program powered by TinmanGo, alongside targeted cost reductions.
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Special Committee Reiterates Call to End Campaign
The Special Committee unanimously recommends shareholders sign the WHITE consent revocation card and disregard any green consent card from Garg, calling his campaign 'costly and distracting.'
Analysis · BETR · Finance
A second leading independent proxy advisor, Glass Lewis, has now sided with the Special Committee, recommending shareholders revoke consent on Garg's campaign to remove five directors. This is a significant development in the ongoing proxy fight because it undermines Garg's core claim that he has majority voting support. The filing also reveals Garg missed his third self-imposed deadline on September 8, further weakening his position. Operationally, the company disclosed it is advancing the sale of its U.K.-based bank and preparing to launch a wholesale program — concrete steps that support the board's argument that it is executing a turnaround. The proxy contest remains the central risk to the stock, and each incremental development shifts the odds of a board takeover.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 29.2% of the 1496 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. 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 $12.36 on NASDAQ in the Finance sector, with a market capitalization of approximately $235M. The 52-week trading range was $11.11 to $94.06. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.