Last week, both the entity defendant (Better Holdco, Inc. or Better) and two individual defendants (Vishal Garg and Nicholas Calamari) filed motions to dismiss the Consolidated Amended Complaint (CAC) in an action brought by Sarah Pierce (Plaintiff) in the Southern District of New York. The case alleges that the defendant mortgage company retaliated against the plaintiff, a former executive.
Plaintiff characterizes her action as being “At its core … a whistleblower retaliation claim based on the improper retaliation that Pierce suffered from Defendants in direct violation of both the Sarbanes-Oxley Act … [as amended by the Dodd-Frank Act] … and also New York Labor Law §740, as amended.”
Plaintiff alleges that until her “illegal termination” on February 4, 2022 she was “the functional equivalent of its [Better’s] Chief Operating Officer” with a base salary of $1,000,000 a year. Plaintiff describes Better as a “digital mortgage company which operates an online platform for mortgage originations and related services …” She identifies Vishal Garg as Better’s “Founder, CEO and significant shareholder…” and Nicholas Calamari as Better’s general counsel.
According to Plaintiff, Better announced in May 2021 that it planned to go public through a merger with a SPAC, Aurora Acquisition Corp, a transaction that has not yet closed. Accordingly, Better is still privately held.
Plaintiff alleges that beginning “at least from November 2021 onward” she voiced concerns to senior...
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