Special Committee Slams Garg's Turnaround Plan as Unworkable, Urges Shareholders to Revoke Consents
BETR sits 17% above its 52-week low of $11.111.
Summary
Better's Special Committee issued a scathing rebuttal to former CEO Vishal Garg's 90-day turnaround plan, calling it unworkable and urging shareholders to revoke any consents given to Garg.
Key Events · Corporate Governance and Compliance · BETR
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Special Committee Rebuts Garg's Turnaround Plan
The Special Committee called Garg's 90-day plan 'unrealistic and grandiose,' citing his missed $1B monthly loan volume target by May 2026 and withdrawn positive adjusted EBITDA guidance.
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Allegations of Misconduct Against Garg
The Company alleges Garg has made false and misleading statements, disclosed confidential information, made threatening statements to employees, and falsely claimed lawful voting control.
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UK Bank Sale Timeline Disputed
The Company says Garg's claim of completing the UK bank sale within 30 days ignores lengthy regulatory approval requirements.
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White Card Revocation Urged
The Special Committee unanimously recommends shareholders sign, date, and return the WHITE consent revocation card and disregard any green consent card from Garg.
Analysis · BETR · Finance
This filing is the Company's direct, same-day rebuttal to former CEO Vishal Garg's 90-day turnaround plan. The Special Committee labels the plan 'unrealistic and grandiose,' pointing to Garg's decade-long record of missed targets—including a $1B monthly loan volume promise by May 2026 that he missed by a wide margin and positive adjusted EBITDA guidance the Company ultimately withdrew. The filing also alleges that Garg has made false and misleading statements, disclosed confidential information, and made threatening statements to employees. With the proxy fight now fully joined, Garg wants to replace five directors and install his own slate, while the Board urges shareholders to sign the WHITE consent revocation card and disregard any green card from Garg. Given a $250M market cap and a bitter control contest underway, this filing marks a critical escalation in a battle that will determine the Company's leadership and strategic direction.
How filings like this one have moved
In the 30 days to Sep 9, 2026, 36.4% of the 1919 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. 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 $13.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $250.8M. 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.