Match Investors Sue IAC, Diller Over 'Grossly Unfair' Split
Law360 (June 29, 2020, 10:06 PM EDT) -- A class of Match Group Inc. stockholders unveiled a 10-count direct and derivative suit Monday against the company's directors, along with InterActiveCorp and media mogul Barry Diller, saying an elaborately conflicted separation of the two companies could cost Match and its stockholders billions.
The suit, filed under seal on June 24, accuses internet and media company IAC, Diller and 10 Match directors and officers of a range of corporation law failures, with Diller and his global holding company separately tagged for breaches of duty as controlling investors of Match and the other Match directors also facing the same count.
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