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Notes that Garg Has Failed to Garner Suffi...

BETR

Better Home & Finance Holding Company Calls on Former CEO Vishal Garg to End His Disruptive Campaign and Allow the Company to Move Forward

Better Home & Finance Defends Board, Dismisses Garg Leadership Campaign

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  <section data-block="information">
    <h3>Information</h3>
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Notes that Garg Has Failed to Garner Suffi...</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>BETR publicly rejects Vishal Garg&#039;s push to regain CEO control and replace the board, saying his campaign jeopardizes confidential information and strategic initiatives. The board had removed Garg and will continue its leadership search. The development reduces near-term governance risk, but ongoing activist threats could create volatility until Garg accepts the independent directors&#039; judgment.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>BETR says Garg must end his campaign to regain CEO role.</li><li>Board removed Garg as CEO two weeks ago and seeks new leadership.</li><li>Garg allegedly misrepresented facts and violated securities laws in his solicitation.</li><li>BETR says Garg&#039;s actions harmed confidential information and strategic initiatives.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Better Home &amp; Finance Holding Company (BETR)</strong>: Defending leadership; aims to preserve governance stability and strategic momentum.</li><li><strong>Vishal Garg (N/A)</strong>: Former CEO leading a campaign to replace the board; represents governance risk.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments; Fits as governance battle and leadership transition with formal statements and consent filings.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Governance headlines may trigger short-term BETR volatility.</li><li>No immediate financing or revenue catalysts linked to Garg&#039;s campaign.</li><li>Tinman AI platform focus remains intact; no leadership changes expected.</li><li>Consent revocation filing could add near-term chatter in options.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Board voted to remove Garg as CEO; decision occurred two weeks before this release.</li><li>Garg allegedly misrepresented facts and violated securities laws in his solicitation.</li><li>Garg lacks sufficient votes despite his super-voting Class B shares.</li><li>Since 2022, Better has &gt;$1.5 billion in losses; stock down &gt;90%.</li><li>BETR plans to file a consent revocation statement with the SEC.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term neutral; watch for votes or disclosures, with potential volatility limited to governance news over the coming weeks.</p>
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<article>
  <h2>Better Home & Finance Holding Company (BETR) Calls on Former CEO Vishal Garg to End Disruptive Campaign and Allow Leadership to Move Forward</h2>

  <p>Better Home &amp; Finance Holding Company, traded on the NASDAQ under the ticker <strong>BETR</strong>, today urged its former chief executive officer, Vishal Garg, to end his disruptive campaign to regain the CEO role and to cease efforts to replace a majority of the Board. The statement follows the board’s unanimous decision to remove Garg as CEO and begin a search for new leadership to guide the company’s next growth phase.</p>

  <section>
    <h3>Key governance actions and Garg’s campaign</h3>
    <p>Two weeks ago, with Vishal Garg not participating in the decision, the Board unanimously voted to remove Mr. Garg as CEO and begin a search for a new leader to guide the next phase of the Company’s growth. Mr. Garg initially accepted that decision and willingly stepped down but has seemingly come to regret his acquiescence.</p>
    <p>Mr. Garg is now waging a costly and distracting campaign to replace the Board, reverse its decision and return himself to an executive role at the Company. The Company calls on Mr. Garg to end his revenge campaign.</p>

    <ul>
      <li><strong>Board action:</strong> The Board unanimously voted to remove Garg as CEO and begin a search for a new leader.</li>
      <li><strong>Garg’s campaign:</strong> Garg has aggressively solicited shareholders to secure support, aiming to replace a majority of the Board.</li>
      <li><strong>Votes and leverage:</strong> Garg does not have the votes required to implement a boardroom coup—even with his super-voting Class B shares.</li>
      <li><strong>Legal concerns:</strong> The company alleges Garg’s solicitation misrepresents facts and violates federal securities laws.</li>
      <li><strong>Reputational impact:</strong> The company characterizes Garg’s media activity as a long-standing pattern focused on himself and high-risk promises without execution.</li>
    </ul>
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  <section>
    <h3>Consequences for the company and its strategy</h3>
    <p>The company notes that Garg’s reprisal campaign has real consequences, including the reckless disclosure of confidential information that could jeopardize Better’s plans, business relationships, and key strategic initiatives.</p>
    <p>According to Better, the record under Garg’s prior leadership includes more than <strong>$1.5 billion</strong> in losses since 2022, while its publicly traded shares declined by more than <strong>90%</strong>.</p>
    <p>Beyond Better, the company points to a history that includes a jury finding Garg in breach of fiduciary duties (and liable for “conversion,” a form of theft) and lawsuits by several large financial institutions alleging “flagrant self-dealing.”</p>
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  <section>
    <h3>Board assurance and path forward</h3>
    <p>Most importantly, the duly elected Board carefully considered Garg’s performance and conduct and concluded that he is unfit to be the leader for Better. No media tour or attacks on Better, its employees or its directors can change that independent judgment.</p>
    <p>If Garg has even half the affection for Better that he professes, he should recognize the damage his campaign is causing the Company he founded—and recognize the campaign’s futility. It is time for Better to move forward with new leadership and for Garg to accept the judgment of the independent directors.</p>
    <p>Shareholders do not need to take any action at this time.</p>
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  <section>
    <h3>About Better Home &amp; Finance</h3>
    <p>Better Home &amp; Finance Holding Company (NASDAQ:<a href="https://www.benzinga.com/quote/BETR">BETR</a>) is the first AI-native mortgage and home equity finance platform, and first fintech to fund more than <strong>$110 billion</strong> in loan volume. Better has leveraged its industry-leading AI platform, Tinman&#xAE;, to achieve its singular mission of making homeownership cheaper, faster, and easier for all Americans. Tinman&#xAE; allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates, and close their loan in as little as three weeks. In addition, Betsy&#x2122;, the first AI loan agent built exclusively for the mortgage industry, revolutionizes the homebuying journey by answering questions, delivering approvals, comparing products, processing rate locks, and moving their loan application along to closing 24/7/365. Better’s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage and home equity loans. Better serves customers in all 50 US states and the United Kingdom.</p>
    <p>For more information, follow <em>@betrmortgage</em> on X and <em>@betterdotcom</em> on Instagram and TikTok.</p>
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  <section>
    <h3>Forward-looking statements</h3>
    <p>This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical fact should be considered forward-looking statements, including, without limitation, statements and expectations regarding the Company’s leadership transition. In some cases, you can identify forward-looking statements by terminology such as <em>“believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,”</em> or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual future events to differ materially from those expressed or implied by the forward-looking statements in this communication. These risks and uncertainties include those risks discussed in the section entitled <em>“Risk Factors”</em> in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as any such factors may be updated from time to time in the Company’s other filings with the SEC, which is available, free of charge, at the SEC’s website at <a href="https://www.sec.gov">www.sec.gov</a>. New risks and uncertainties arise from time to time, and it is impossible for Better to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Better undertakes no obligation, except as required by law, to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.</p>
  </section>

  <section>
    <h3>Important Additional Information and Where to Find It</h3>
    <p>The Company intends to file a preliminary consent revocation statement with the U.S. Securities and Exchange Commission (the <em>“SEC”</em>), together with an accompanying WHITE consent revocation card, in opposition to the solicitation of written consents by Vishal Garg and the members of his group (collectively, the <em>“Garg Group”</em>) seeking to remove members of the Company’s Board of Directors. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE CONSENT REVOCATION STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER DOCUMENTS THE COMPANY FILES W...</p>
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</article>

BETR publicly rejects Vishal Garg's push to regain CEO control and replace the board, saying his campaign jeopardizes confidential information and strategic initiatives. The board had removed Garg and will continue its leadership search. The development reduces near-term governance risk, but ongoing activist threats could create volatility until Garg accepts the independent directors' judgment.

News insight

Better Home & Finance Holding Company Calls on Former CEO Vishal Garg to End His Disruptive Campaign and Allow the Company to Move Forward

AI summary

Sentiment rationale

Key facts

Corporate Developments