Garg Group Secures 51%+ Consents to Retake Better Home & Finance, Unveils 90-Day Turnaround
BETR is trading near its 52-week low of $9.81 (6.0% above the low) on light trading volume (0.1× avg).
Summary
Vishal Garg and The Garg Group have secured written consents representing over 51% of voting shares, giving them control to remove five directors and retake the company. This follows a two-month proxy fight that included lawsuits, a failed consent attempt, and a board investigation. The group announced a detailed 90-Day Plan: reconstitute the board with Bing Gordon and Steve Sarracino, appoint an interim CEO from a Tier 1 advisory firm, raise annual cost-savings target to $60 million, accelerate revenue to $2 billion quarterly volume, divest UK banking operations, and implement a $30 million buyback. A shareholder conference call is scheduled for October 5, 2026. This is a major governance shift with immediate operational implications.
Updates
· SEC DFAN14A — The DFAN14A filing includes the full press release and confirms the Garg Group secured over 51% written consents and detailed the 90-day plan with $30M buyback and board overhaul.
At the time of this announcement, BETR was trading at $10.40 on NASDAQ in the Finance sector, with a market capitalization of approximately $199.4M. The 52-week trading range was $9.81 to $92.69. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.