One of Better.com’s former executives has filed a lawsuit against the online mortgage lender, alleging that the company and its CEO Vishal Garg misled investors when it attempted to go public via a SPAC, reports the Wall Street Journal.
Sarah Pierce served as executive vice president of customer experience, sales and operations at Better.com before parting ways with the company earlier this year. At that time, it was not clear if she left voluntarily or was asked to resign but Pierce says now in her suit she was pushed out.
In her lawsuit filed today, according to the Wall Street Journal, Pierce alleges that Better.com misrepresented its business and prospects so that it could move forward with a SPAC that would have given the company a post-money equity value of approximately $7.7 billion. The SPAC was delayed and has not yet taken place.
Her complaint, reports the Journal, alleges that both Garg and Better’s “treatment …
