Vishal Garg, the CEO of Better.com has made it back into the headlines for even more sleazy behavior than before. According to reports, Better.com along with its CEO has been sued by a former executive against the backdrop of claims that he along with the company misled investors about its financial prospects and overall performance. Of course, these are all claims that Better.com viciously denied in statements to CNN claiming that they are “fully” without merit.
This is the same Vishal that notoriously without notice fired 900 or so people a while back during the pandemic… over Zoom.
According to what we could dig up about the ordeal, the problem dates back to a $7.7B SPAC merger the company agreed to on Garg ‘s watch. The problem is that the former executive, identified as Sarah Pierce, claims that not everything that was told to investors during this period of the deal was actually true. Plus Pierce argued in her suit against the company that they also misled investors about the prospects of a wildly varying mortgage rate situation which is now seeing the housing market in the U.S struggle to figure out which way it wants to go.
“We have reviewed the claims in the complaint and strongly believe them to be without merit,” a lawyer for Better.com said in a statement. “The company is confident in our financial and accounting practices, and we will vigorously defend this lawsuit.”
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