Better.com and Aurora Acquisition Corp., which agreed to a merger last year, are under investigation by the Securities & Exchange Commission (SEC) to determine whether Better has violated federal securities laws.
Better.com, its controversial CEO Vishal Garg, and other top executives at the company are the target of a lawsuit by a former executive claiming she was terminated in retaliation for raising concerns that the company had violated securities laws and misled investors. Filed Tuesday in U.S. District Court for the Southern District of New York by Sarah J. Pierce, the company’s former executive vice president for sales and operations, the lawsuit seeks a total of $195 million in compensatory and punitive damages.
A former executive for mortgage and real estate company Better.com claims she was fired after she complained that the company's CEO misled investors about the company's performance in order to make sure its plan to go public is successful, according to a lawsuit filed Tuesday in Manhattan federal court.