Online mortgage lender Better.com and its chief executive Vishal Garg allegedly misled investors in financial documents and other statements it made as it tried to go public, according to a lawsuit filed Tuesday by a former executive. superior of the company.
Sarah Pierce, former executive vice president of sales and operations at Better.com and one of its top executives, said Mr. Garg and the company allegedly misrepresented Better.com’s business and outlook to keep investors on board with a planned merger with a special purpose acquisition. company or SPAC. The deal was made last May and has yet to close.