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Vishal Garg seeks to reclaim CEO role at Better Home & Finance after being ousted by the board

Vishal Garg, the founder of Better Home & Finance, is seeking to regain his position as chief executive after being removed by the company's board on August 3. Garg contends that the company was on the verge of a financial recovery through AI-driven mortgage processing when he was replaced by Daniel Lewis. While Garg argues that the company was close to profitability, the board cited net losses exceeding $1.5 billion since 2022 and a 93% drop in stock price under his leadership as reasons for the change. Better Home & Finance has initiated a lawsuit against Garg, accusing him of a "scorched-earth campaign" to retake control. The lawsuit alleges that Garg has been making misleading statements and insulting employees during his bid to return to the leadership role. Garg maintains that he has the voting power to win back his job and has offered to work for a nominal salary of $1 per year until the company reaches profitability. He remains on the board and continues to work to build a shareholder coalition to overturn the board's decision.

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