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Better shareholders back removal of five directors, restoring Vishal Garg control
The vote cleared 52.0% of voting power and sets up steps including winding down the company’s poison pill and dismissing related litigation.
HousingWire reports that an independent election inspector certified Better shareholders representing 52.02% of voting power supported removing five directors, restoring founder Vishal Garg’s control of the board.
The reconstituted board plans to unwind the poison pill, dismiss litigation, and proceed with Better 2.0 initiatives, according to a press release issued by Garg and The Garg Group, a coalition of investors.
The election result backed removal of Chairman Harit Talwar, interim CEO Daniel Lewis, and directors Arnaud Massenet, Bhaskar Menon, and Prabhu Narasimhan.
HousingWire also notes that Better said on the same day it would not challenge Garg’s consent solicitation to remove the directors and return him to a leadership role.