Leave Delaware(@LeaveDelaware):JUST IN: DELAWARE CHANCERY COURT BLOCKS https://t.co/pY4DBGDY1R’S POISON PILL AS OUSTED FOUNDER VISHAL GARG FIGHTS TO RETAKE CONTROL. Vice Chancellor Lori Will granted Garg a temporary restraining order suspending Better’s shareholder-rights plan and the special board committee created to respond to his campaign. A New York federal judge separately refused to stop Garg from soliciting shareholder support. Both rulings are preliminary, not final decisions on the merits. Garg was fired as CEO on August 3 and is now trying to remove five of Better’s eight directors and regain control. The Delaware fight has quickly become a major real-world test of founder voting power, board entrenchment and how aggressively directors can use takeover defenses against a company’s own founder. ⁠

2026.08.31 21:14

JUST IN: DELAWARE CHANCERY COURT BLOCKS POISON PILL AS OUSTED FOUNDER VISHAL GARG FIGHTS TO RETAKE CONTROL. Vice Chancellor Lori Will granted Garg a temporary restraining order suspending Better’s shareholder-rights plan and the special board committee created to respond to his campaign. A New York federal judge separately refused to stop Garg from soliciting shareholder support. Both rulings are preliminary, not final decisions on the merits. Garg was fired as CEO on August 3 and is now trying to remove five of Better’s eight directors and regain control. The Delaware fight has quickly become a major real-world test of founder voting power, board entrenchment and how aggressively directors can use takeover defenses against a company’s own founder. ⁠

Leave Delaware@LeaveDelaware

2026.08.27 11:18

🚨 NEW: FOUNDER VISHAL GARG HAS SUED HIS OWN BOARD IN DELAWARE CHANCERY, ASKING THE COURT TO INVALIDATE A “POISON PILL” ADOPTED AFTER HIS OUSTER. Garg alleges the board used the rights plan to block his effort to remove five directors and regain control. Better says his shareholder campaign violates federal securities laws and is separately trying to stop it in federal court. (HousingWire) The explosive detail: Garg says the board offered him a vice chairman and adviser package worth more than $15 million just three days after firing him as CEO. Better shares had fallen nearly 60% from his removal through August 21, according to his filing. (National Mortgage Professional)

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