The CEO who fired 900 people over Zoom is accused of misleading investors

Business June 8, 2022 News
The CEO who fired 900 people over Zoom is accused of misleading investors

From CNN | Business by David Goldman, CNN Business

Vishal Garg, the Better.com CEO who fired 900 employees over Zoom just before Christmas, has been sued by a former executive for allegedly misleading investors.

The SoftBank-backed online mortgage company agreed to a $7.7 billion merger with a blank-check firm to take the company public just over a year ago, but the so-called SPAC deal has yet to close. Since then, Garg's public controversy — and surging mortgage rates — have hurt the company's image and business.

Sarah Pierce, a former executive vice president for sales and operations at the company, claimed in a lawsuit that Garg misrepresented Better.com's statements to ensure the SPAC merger moved forward.

Photo Courtesy The Real Deal

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