Garg Claims 46% Consent Support, Names Director Slate in Board Fight
BETR is trading near its 52-week low of $11.111 (12% above the low).
Summary
Vishal Garg's group says it has consents from over 46% of voting power to remove five directors, including interim CEO Daniel Lewis, and names Bing Gordon, David Heidecorn, and Steve Sarracino as proposed replacements. The company disputed the support level on X, accusing Garg of securities violations. This escalates the proxy contest with a concrete threshold claim and a public slate, following weeks of SEC filings and lawsuits. The 46% figure is preliminary and unverified, but if accurate it puts Garg close to the majority needed to force a board overhaul. Watch for the October 20 consent deadline and any independent verification of the vote count.
At the time of this announcement, BETR was trading at $12.47 on NASDAQ in the Finance sector, with a market capitalization of approximately $237.1M. The 52-week trading range was $11.11 to $94.06. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: BusinessWire.