- Vishal Garg, founder and former CEO of Better Home & Finance, has launched a consent solicitation to remove five directors: interim CEO Daniel Lewis, Harit Talwar, Arnaud Massenet, Bhaskar Menon and Prabhu Narasimhan.
- Garg Group claims it has received consents representing more than 46% of Better's voting power.
- Garg says his proxy solicitor met with company General Counsel Paula Tuffin yesterday and presented evidence of the consents.
- Garg identifies three director candidates: Bing Gordon, David Heidecorn and Steve Sarracino, but notes no agreement is in place and appointments would require board majority approval.
- Garg has filed a definitive consent solicitation with the SEC.
- Vishal Garg's activist group escalated its proxy fight by asserting it has demonstrated majority support and demanding Better correct public statements. The Garg Group has presented evidence to company counsel, but Better has not yet updated its disclosures.
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