Independent Inspector Confirms Garg Group Has 52%+ Votes to Oust Five Better Directors
BETR sits 21% above its 52-week low of $9.81.
Summary
An independent inspector has preliminarily verified that the Garg Group's consents exceed 52% of votes, up from the over 51% reported on September 30. This confirms the shareholder mandate to remove five directors, including interim CEO Daniel Lewis. The Garg Group also claims it blocked an attempt by Lewis to pay himself $750,000 with the complicity of a board member. The board is expected to accept the removal today, paving the way for Garg's 90-day turnaround plan with a $30M buyback and $2B volume target. The formal certification of the vote will finalize the leadership change and shift focus to operational execution.
Updates
· SEC DFAN14A — The Garg Group expects the five directors to accept removal today and effectuate an orderly handover.
At the time of this announcement, BETR was trading at $11.88 on NASDAQ in the Finance sector, with a market capitalization of approximately $225.8M. 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 8 out of 10. Source: BusinessWire.