Investors have long accused Better CEO Vishal Garg of self-dealing. Now, their lawsuits could threaten the company's SPAC deal.
Investors unearthed new docs to allege CEO Vishal Garg misappropriated their funds to launch Better.Better.com, the embattled mortgage startup that has laid off more than 4,000 employees since December, says it is set to go public through a
The new filings, in which investors claim Garg and his business partners were not transparent about the dynamic between related entities, heighten a. They're also casting a shadow over the pending deal to go public through a special-purpose acquisition company. Representatives for Better investors SoftBank, Ally Financial, and Pine Brook didn't respond to a request for comment. A representative for Aurora declined to comment for this story.The crux of the Cayman Islands investors' allegations is that Garg and his business partners misappropriated distributions meant for Phoenix Holdco, the limited partnership that served as their investment vehicle.
One document in particular raised questions about how Garg and others managed their funds, the investors said. An auditor's report in July 2021 by Cayman Moore highlighted instances in which it said a Phoenix director used their personal bank account to manage the partnership's finances. The report didn't identify the director.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Letter: The vast majority of Americans would be better off with a carbon fee and dividend'Conserving water is necessary but fails to address the underlying reason behind the drought,' writes Jean M. Lown. 'Pouring tons of carbon dioxide into the atmosphere by burning fossil fuels.'
Weiterlesen »
The 2022 Met Gala After-Party Outfits Might Be Better Than The Red CarpetFollowing the celebrity-studded Met Gala, our favorite stars were quick to make their way to some of the night's biggest after-parties.
Weiterlesen »
The Most Intricate Scams of 'Better Call Saul,' Ranked by CreativityLet's revisit BetterCallSaul's best scams and swindles that have formed Jimmy McGill into the infamous criminal lawyer Saul Goodman.
Weiterlesen »
No One Dunks on Matt Gaetz Better Than Matt GaetzToday’s installment of “Why Are You Even Tweeting?” is brought to you by none other than Florida representative Matt Gaetz
Weiterlesen »
Apple Watch SE 2 might get better specs and a price hikeA new rumor says the Apple Watch SE 2 will see a $20 price bump over the current model - but the specs upgrade might be worth it.
Weiterlesen »
Marshall Just Made the Best Compact Bluetooth Speaker So Much BetterThe Emberton II has longer battery life, a dedicated app, and a 'Stack Mode' for multi-speaker listening.
Weiterlesen »