Vishal Garg, CEO of Better.com.
Sara has claimed in the case that Garg misrepresented Better’s statements to ensure that investors proceed with the SPAC merger rather than withdraw due to their financial condition.
Vishal Garg, Chief Executive Officer (CEO) of Better.com, who laid off 900 employees on a Zoom call.Vishal Garg) the difficulties have increased. A former employee of the company has filed a case against the CEO and the company. The former employee alleges that the company and Garg have given misleading statements to investors about the financial prospects and performance of the digital mortgage firm. The case has been filed by Sarah Pierce, a former employee of the company. Sarah Better has served as Vice President for Sales and Operations at the SoftBank-backed company.
Sara has claimed in the case that Garg misrepresented Better’s statements to ensure that investors proceed with the SPAC merger rather than withdraw because of their financial position. A lawyer for Better.com said that there is no merit in the claim.
900 employees fired for 3 minute zoom call
Garg is an American citizen of Indian origin, who is the CEO of American company Better.com. The CEO of the American company Better.com invited more than 900 employees on a zoom call and in one stroke, all were fired. The workers thought that this would be a meeting call and some new announcement would be made, but they were fired.
Better plans to launch an IPO through a merger with Aurora Acquisition Corp, a special purpose acquisition company that was valued at $7.7 billion. The company had planned to bring a public issue last year, which has not closed yet.
The SPAC deal was in its early stages during the pandemic. Pierce said in the case that he was fired from his role in February in retaliation for raising concerns about the deal. Pierce has sought financial compensation. He has filed a case in the US District Court for the Southern District of New York.
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Source: www.tv9hindi.com
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