Former Better.com Executive Ends Whistleblower Lawsuit

Sarah Pierce, a former executive at Better.com, has voluntarily dismissed with prejudice her remaining allegations against the digital nonbank lender, its CEO Vishal Garg, and the company's General Counsel, Nicholas Calamari.

A court filing dated April 19, 2024 indicates that Pierce's actions have been "voluntarily dismissed with prejudice" against the defendants. A spokesperson for Better.com said that the company had no comment on the dismissal, except, "We are pleased that the case is resolved."

Pierce, a former executive vice president for sales and operations, claimed in a lawsuit filed in June 2022 that she was terminated in retaliation for raising concerns that the company had violated securities laws and misled investors, including potential labor law breaches. She had been seeking a total of $195 million in compensatory and punitive damages.

In October 2023, a federal judge in New York issued a ruling dismissing some, but not all, of the key claims against Better.com, Garg, and Calamari, allowing allegations of retaliation and defamation to proceed.

Better debuted in the public market on Aug. 23, 2023, via a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp. The stock has tumbled from an opening price of $2.40 per share to today's price of $0.39.