{"success":true,"data":{"pressRelease":{"id":"156933","rtpr_id":"nBw6S9ybLa-20260930","ticker":"BETR","exchange":"NASDAQ","all_tickers":["BETR"],"title":"Historic Win for Better Home & Finance Shareholders as Garg Group Secures Majority Vote to Retake Control of Company","author":"Business Wire","published_at":"2026-09-30T13:55:00.077Z","article_body":"Historic Win for Better Home & Finance Shareholders as Garg Group Secures\nMajority Vote to Retake Control of Company\n\nLeadership Group Led by Founder and Former CEO Vishal Garg Announces and\nPrepares to Launch Detailed 90-Day Turnaround Plan Which Includes Removal of\nCurrent Board\n\nVishal Garg and The Garg Group today announced that they have secured written\nconsents representing over 51% of the voting shares of Better Home &\nFinance Corporation (“Better” or the “Company”) (Nasdaq: BETR),\nallowing Garg to return after less than two months.\n\n“This is a resounding victory for Better’s shareholders, customers and\nemployees, who all participated in organizing the resistance to the coup led\nby Daniel Lewis and the incumbent board. Now we get back to the work of\ndriving Better to a new chapter of profitable growth building on the progress\nwe have made in the past two years in establishing Tinman AI, the best\nplatform in the mortgage industry,” said Vishal Garg, Founder of Better.\n\n“This historic victory serves the best interests of every Better\nshareholder,” said Alex Spiro, Partner at Quinn Emanuel Urquhart &\nSullivan. “No public CEO has ever been pushed out, litigated the issue, and\nwon his way back in two months. Vishal Garg has been vindicated.”\n\nUpon formal acceptance of the proxy results by the Company, The Garg Group\nwill execute the following structured 90-Day Plan:\n\n\n 1. Reconstitute the Company’s Board of Directors (the “Board”): Remove\nDaniel Lewis, Harit Talwar, Bhaskar Menon, Arnaud Massenet and Prabhu\nNarsimhan, and appoint Silicon Valley venture capitalists Bing Gordon and\nSteve Sarracino to the Board.\n\n 2. Appoint Interim Chief Executive Officer: Engage a senior executive from a Tier\n1 Advisory Firm with specialized expertise in mortgage origination, servicing,\nand corporate growth to serve as Interim CEO.\n\n 3. Expand Operational Efficiency Targets: Retain a Tier 1 Advisory Firm to\nstreamline operations across sales, origination, and corporate functions,\nleveraging AI-driven workflows to raise annual cost-savings targets from $45\nmillion to $60 million.\n\n 4. Accelerate Revenue and Production: Finalize high-value Tinman AI platform\npartnerships and scale HELOC production to achieve $2 billion in quarterly\ncombined volume.\n\n 5. Divest Non-Core Assets: Complete the strategic sale of the UK banking\noperations.\n\n 6. Authorize Share Repurchase Program: Implement a $30 million stock buyback plan\nfollowing asset sales and efficiency realizations, beginning with an initial\n$10 million tranche upon Board approval.\n\nFollowing the transition, Garg will serve as Head of Product, Platform, and\nInnovation, working closely with the incoming Interim CEO and executive team.\nThe Garg Group expects the Board of Directors to promptly recognize the\ndelivered majority consents and facilitate an orderly transition to protect\nand restore shareholder value.\n\nAdvisors\n\nAlex Spiro, Michael Swartz and Minji Reem of Quinn Emanuel Urquhart &\nSullivan, LLP served as legal advisors to the Garg Group. Andrew Freedman and\nMark Kiley of Olshan Frome Wolosky LLP also served as legal advisors to the\nGarg Group. Longacre Square Partners provided strategy and governance advice\nto the Garg Group. Capital V and Hiltzik Strategies provided communications\nadvice to the Garg Group.\n\nShareholder Conference Call\n\nBetter will hold an informational conference call for all shareholders to\nreview the 90-Day Plan on Monday, October 5, 2026, at 4:30 PM ET. Dial-in\ndetails will be released shortly.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260930067906/en/\n(https://www.businesswire.com/news/home/20260930067906/en/)\n\nMedia Contact: \n\ninfo@onezerocapital.com \n(mailto:info@onezerocapital.com) \ngarggroup@longacresquare.com (mailto:garggroup@longacresquare.com)\n\nInvestor Contact: \n\nBruce Goldfarb / Chuck Garske\n\nOkapi Partners LLC\n\n(877) 629-6357\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw6S9ybLa-20260930","title":"Historic Win for Better Home & Finance Shareholders as Garg Group Secures Majority Vote to Retake Control of Company","author":"Business Wire","ticker":"BETR","created":"2026-09-30T13:55:00.077Z","tickers":["BETR"],"exchange":"NASDAQ","article_body":"Historic Win for Better Home & Finance Shareholders as Garg Group Secures\nMajority Vote to Retake Control of Company\n\nLeadership Group Led by Founder and Former CEO Vishal Garg Announces and\nPrepares to Launch Detailed 90-Day Turnaround Plan Which Includes Removal of\nCurrent Board\n\nVishal Garg and The Garg Group today announced that they have secured written\nconsents representing over 51% of the voting shares of Better Home &\nFinance Corporation (“Better” or the “Company”) (Nasdaq: BETR),\nallowing Garg to return after less than two months.\n\n“This is a resounding victory for Better’s shareholders, customers and\nemployees, who all participated in organizing the resistance to the coup led\nby Daniel Lewis and the incumbent board. Now we get back to the work of\ndriving Better to a new chapter of profitable growth building on the progress\nwe have made in the past two years in establishing Tinman AI, the best\nplatform in the mortgage industry,” said Vishal Garg, Founder of Better.\n\n“This historic victory serves the best interests of every Better\nshareholder,” said Alex Spiro, Partner at Quinn Emanuel Urquhart &\nSullivan. “No public CEO has ever been pushed out, litigated the issue, and\nwon his way back in two months. Vishal Garg has been vindicated.”\n\nUpon formal acceptance of the proxy results by the Company, The Garg Group\nwill execute the following structured 90-Day Plan:\n\n\n 1. Reconstitute the Company’s Board of Directors (the “Board”): Remove\nDaniel Lewis, Harit Talwar, Bhaskar Menon, Arnaud Massenet and Prabhu\nNarsimhan, and appoint Silicon Valley venture capitalists Bing Gordon and\nSteve Sarracino to the Board.\n\n 2. Appoint Interim Chief Executive Officer: Engage a senior executive from a Tier\n1 Advisory Firm with specialized expertise in mortgage origination, servicing,\nand corporate growth to serve as Interim CEO.\n\n 3. Expand Operational Efficiency Targets: Retain a Tier 1 Advisory Firm to\nstreamline operations across sales, origination, and corporate functions,\nleveraging AI-driven workflows to raise annual cost-savings targets from $45\nmillion to $60 million.\n\n 4. Accelerate Revenue and Production: Finalize high-value Tinman AI platform\npartnerships and scale HELOC production to achieve $2 billion in quarterly\ncombined volume.\n\n 5. Divest Non-Core Assets: Complete the strategic sale of the UK banking\noperations.\n\n 6. Authorize Share Repurchase Program: Implement a $30 million stock buyback plan\nfollowing asset sales and efficiency realizations, beginning with an initial\n$10 million tranche upon Board approval.\n\nFollowing the transition, Garg will serve as Head of Product, Platform, and\nInnovation, working closely with the incoming Interim CEO and executive team.\nThe Garg Group expects the Board of Directors to promptly recognize the\ndelivered majority consents and facilitate an orderly transition to protect\nand restore shareholder value.\n\nAdvisors\n\nAlex Spiro, Michael Swartz and Minji Reem of Quinn Emanuel Urquhart &\nSullivan, LLP served as legal advisors to the Garg Group. Andrew Freedman and\nMark Kiley of Olshan Frome Wolosky LLP also served as legal advisors to the\nGarg Group. Longacre Square Partners provided strategy and governance advice\nto the Garg Group. Capital V and Hiltzik Strategies provided communications\nadvice to the Garg Group.\n\nShareholder Conference Call\n\nBetter will hold an informational conference call for all shareholders to\nreview the 90-Day Plan on Monday, October 5, 2026, at 4:30 PM ET. Dial-in\ndetails will be released shortly.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260930067906/en/\n(https://www.businesswire.com/news/home/20260930067906/en/)\n\nMedia Contact: \n\ninfo@onezerocapital.com \n(mailto:info@onezerocapital.com) \ngarggroup@longacresquare.com (mailto:garggroup@longacresquare.com)\n\nInvestor Contact: \n\nBruce Goldfarb / Chuck Garske\n\nOkapi Partners LLC\n\n(877) 629-6357\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-30T13:55:00.11974967Z","server_sent_at_ms":1790776500119},"received_at":"2026-09-30T13:55:00.169Z","source_url":"https://www.businesswire.com/news/home/20260930067906/en/"},"analysis":{"id":"145609","press_release_id":"156933","analysis_json":{"industry":{"label":"Mortgage REITs","sector":"Financials"},"redFlags":["Control outcome announced by dissident group; company has not yet formally accepted the consents, leaving transition execution risk","Board removal of five directors plus CEO change creates leadership instability","Turnaround targets ($60M cost savings, $2B quarterly volume) are aspirational, not company-validated guidance","UK banking divestiture implies further strategic restructuring"],"eventType":"board_change","narrative":"Vishal Garg and The Garg Group announced they have secured written consents representing over 51% of voting shares of Better Home & Finance, paving the way for the founder's return less than two months after his removal.\n\nThe group's 90-Day Plan calls for removing five incumbent directors including Daniel Lewis, appointing Bing Gordon and Steve Sarracino to the board, and hiring an interim CEO from a Tier 1 advisory firm.\n\nThe plan targets raising annual cost savings from $45 million to $60 million, achieving $2 billion in quarterly combined volume via Tinman AI partnerships and HELOC production, divesting UK banking operations, and authorizing a $30 million buyback.\n\nGarg will serve as Head of Product, Platform, and Innovation following the transition; the company has not yet formally accepted the proxy results, and an informational shareholder call is set for October 5, 2026.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Founder Vishal Garg wins back control of Better with 51%+ consents; watch whether the board recognizes the vote and how the 90-day turnaround plan is executed."},"keyFigures":{"customDimensions":{"buyback_plan":"$30 million total, $10 million initial tranche","consents_secured":"over 51% of voting shares","turnaround_window":"90 days","cost_savings_target":"$60 million (raised from $45 million)","quarterly_volume_target":"$2 billion combined Tinman AI partnerships and HELOC production"}},"quotedText":"This is a resounding victory for Better’s shareholders, customers and employees, who all participated in organizing the resistance to the coup led by Daniel Lewis and the incumbent board.","namedEntities":{"people":[{"name":"Vishal Garg","role":"Founder and former CEO of Better; incoming Head of Product, Platform, and Innovation"},{"name":"Daniel Lewis","role":"Incumbent board member targeted for removal"},{"name":"Harit Talwar","role":"Incumbent board member targeted for removal"},{"name":"Bhaskar Menon","role":"Incumbent board member targeted for removal"},{"name":"Arnaud Massenet","role":"Incumbent board member targeted for removal"},{"name":"Prabhu Narsimhan","role":"Incumbent board member targeted for removal"},{"name":"Bing Gordon","role":"Proposed incoming board member"},{"name":"Steve Sarracino","role":"Proposed incoming board member"},{"name":"Alex Spiro","role":"Partner at Quinn Emanuel Urquhart & Sullivan, legal advisor to Garg Group"}],"products":["Tinman AI"],"companies":[{"name":"Better Home & Finance Corporation","ticker":"BETR","relationship":"target of board reconstitution"},{"name":"The Garg Group","relationship":"dissident shareholder group"},{"name":"Quinn Emanuel Urquhart & Sullivan, LLP","relationship":"legal advisor to Garg Group"},{"name":"Olshan Frome Wolosky LLP","relationship":"legal advisor to Garg Group"},{"name":"Longacre Square Partners","relationship":"strategy and governance advisor to Garg Group"},{"name":"Okapi Partners LLC","relationship":"investor contact / proxy solicitor"}],"dollarAmounts":[{"amount":"$45 million","context":"prior annual cost-savings target"},{"amount":"$60 million","context":"raised annual cost-savings target"},{"amount":"$2 billion","context":"targeted quarterly combined volume from Tinman AI partnerships and HELOC production"},{"amount":"$30 million","context":"proposed share repurchase program"},{"amount":"$10 million","context":"initial buyback tranche upon Board approval"}]},"materialImpact":{"score":4,"reasoning":"A shareholder group led by founder Vishal Garg secured written consents representing over 51% of voting shares, planning to remove five board members, install an interim CEO, and execute a 90-day turnaround plan including a $30M buyback and UK banking divestiture. Complete control change with significant strategic implications, though results are announced by the dissident group and not yet formally accepted by the company."},"tickerRelevance":{"others":[],"primary":"BETR"},"globalImportance":45,"audienceRelevance":55,"eventTypeSecondary":["executive_change","buyback","restructuring"],"importanceComponents":{"tickerTier":"mid-small-cap fintech/mortgage","eventGravity":"full control change / founder reinstatement with proxy fight resolution","certaintyAdjustment":"dissident-group announcement, board acceptance pending","retailFavoriteBoost":"BETR has retail notoriety following IPO and publicized leadership saga"}},"event_type":"board_change","event_type_secondary":["executive_change","buyback","restructuring"],"sentiment":"mixed","material_impact_score":4,"narrative":"Vishal Garg and The Garg Group announced they have secured written consents representing over 51% of voting shares of Better Home & Finance, paving the way for the founder's return less than two months after his removal.\n\nThe group's 90-Day Plan calls for removing five incumbent directors including Daniel Lewis, appointing Bing Gordon and Steve Sarracino to the board, and hiring an interim CEO from a Tier 1 advisory firm.\n\nThe plan targets raising annual cost savings from $45 million to $60 million, achieving $2 billion in quarterly combined volume via Tinman AI partnerships and HELOC production, divesting UK banking operations, and authorizing a $30 million buyback.\n\nGarg will serve as Head of Product, Platform, and Innovation following the transition; the company has not yet formally accepted the proxy results, and an informational shareholder call is set for October 5, 2026.","key_figures":{"customDimensions":{"buyback_plan":"$30 million total, $10 million initial tranche","consents_secured":"over 51% of voting shares","turnaround_window":"90 days","cost_savings_target":"$60 million (raised from $45 million)","quarterly_volume_target":"$2 billion combined Tinman AI partnerships and HELOC production"}},"named_entities":{"people":[{"name":"Vishal Garg","role":"Founder and former CEO of Better; incoming Head of Product, Platform, and Innovation"},{"name":"Daniel Lewis","role":"Incumbent board member targeted for removal"},{"name":"Harit Talwar","role":"Incumbent board member targeted for removal"},{"name":"Bhaskar Menon","role":"Incumbent board member targeted for removal"},{"name":"Arnaud Massenet","role":"Incumbent board member targeted for removal"},{"name":"Prabhu Narsimhan","role":"Incumbent board member targeted for removal"},{"name":"Bing Gordon","role":"Proposed incoming board member"},{"name":"Steve Sarracino","role":"Proposed incoming board member"},{"name":"Alex Spiro","role":"Partner at Quinn Emanuel Urquhart & Sullivan, legal advisor to Garg Group"}],"products":["Tinman AI"],"companies":[{"name":"Better Home & Finance Corporation","ticker":"BETR","relationship":"target of board reconstitution"},{"name":"The Garg Group","relationship":"dissident shareholder group"},{"name":"Quinn Emanuel Urquhart & Sullivan, LLP","relationship":"legal advisor to Garg Group"},{"name":"Olshan Frome Wolosky LLP","relationship":"legal advisor to Garg Group"},{"name":"Longacre Square Partners","relationship":"strategy and governance advisor to Garg Group"},{"name":"Okapi Partners LLC","relationship":"investor contact / proxy solicitor"}],"dollarAmounts":[{"amount":"$45 million","context":"prior annual cost-savings target"},{"amount":"$60 million","context":"raised annual cost-savings target"},{"amount":"$2 billion","context":"targeted quarterly combined volume from Tinman AI partnerships and HELOC production"},{"amount":"$30 million","context":"proposed share repurchase program"},{"amount":"$10 million","context":"initial buyback tranche upon Board approval"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-30T13:55:10.518Z","global_importance":45,"audience_relevance":55,"importance_components":{"tickerTier":"mid-small-cap fintech/mortgage","eventGravity":"full control change / founder reinstatement with proxy fight resolution","certaintyAdjustment":"dissident-group announcement, board acceptance pending","retailFavoriteBoost":"BETR has retail notoriety following IPO and publicized leadership saga"}},"durationMs":10337,"modelName":"glm-5.3-flashx"}}