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The Mortgage Institution is facing an SEC survey



(Reuters) – The US Securities and Exchange Commission is investigating whether the mortgage lender Better.com and the special acquirer it has agreed to merge with, Aurora Acquisition Corp., have violated federal securities laws.

During the second quarter of this year, Better and Aurora received voluntary requests from the regulator for certain documents and information, Aurora said in a report on Thursday.

“We believe this is a routine request for information, not a request,” a Better.com spokesman said in an email.

The SEC inquiries include information about CEO Vishal Garg’s business transactions and allegations in a lawsuit filed against him by Sarah Pierce, Better.com̵

7;s former head of sales and operations.

Last month, Pierce filed a lawsuit alleging that Garg misrepresented Better.com’s statements to ensure investors go through a SPAC merger instead of withdrawing due to its financial situation.

Better.com and Aurora partner with SEC, the blank check company added to the SEC file.

The SEC declined to comment. Aurora Acquisition Corp. declined to comment beyond the report.


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