Better Home Shares Fall After Update on Consent Solicitation
MT Newswires Live
3 hours ago
Better Home & Finance (BETR) shares were down almost 8% in Monday trading after a special committee of the firm withdrew its challenge to founder Vishal Garg's consent solicitation for the removal of five directors.
"This decision is in the best interests of the company and all of its stockholders, in consideration of the costs and uncertainty of a prolonged contest," the company said in a statement.
Following the decision, Garg and the Garg Group said they plan to appoint venture capitalist Bing Gordon and Steve Sarracino to the board and activate plan to create value for shareholders.
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