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The Independent UK
The Independent UK
National
Graig Graziosi

Now sacked CEO who fired 900 employees on Zoom is being sued by own firm

Vishal Garg
  • Better Home & Finance is suing its founder Vishal Garg, accusing him of launching a campaign to forcibly retake control of the company.
  • Garg was ousted as chief executive on 3 August after the board cited net losses exceeding $1.5 billion since 2022 and a stock price drop of over 90 per cent.
  • The lawsuit alleges Garg violated federal securities laws by making misleading statements to assemble a coalition of shareholders without required SEC proxy filings.
  • Garg allegedly demanded the board resign and falsely claimed to have secured 52 per cent of the shareholder vote to support his takeover bid.
  • The company is asking the court to void Garg's shareholder support and prohibit him from soliciting further backing for at least 30 days.

IN FULL

CEO who fired 900 employees on Zoom and allegedly called employees ’monkeys’ is sued by own company

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