A former senior executive at Better.com alleged in a lawsuit that the online mortgage lender misled investors in financial filings and other representations it made as it attempts to go public.
Sarah Pierce, Better.com’s former executive vice president for sales and operations, alleged in the suit that Chief Executive Vishal Garg and the company misrepresented Better.com’s business and prospects to keep investors onboard with a planned merger with a special-purpose acquisition company, or SPAC. The deal was agreed to in May 2021 and has yet to close.
