IAC/INTERACTIVECORP INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of IAC/InterActiveCorp – IAC
NEW ORLEANS–(BUSINESS WIRE)–$IAC #IAC–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces
that KSF has commenced an investigation into IAC/InterActiveCorp
(NasdaqGS: IAC).
On August 14, 2018, founders and current and former employees of Tinder
filed a lawsuit against Tinder’s parent companies, IAC/InterActiveCorp
(“IAC”) and its subsidiary Match Group, Inc. (“Match”) alleging that
they created false financial information, delayed new products and used
other tactics to deliberately undervalue Tinder in order to prevent
select Tinder shareholders from exercising their rights to cash in stock
options worth billions of dollars. As a result, Match and IAC may have
significantly understated Match’s liability for compensating Tinder’s
shareholders.
Further, the complaint charges that IAC and Match executives covered up
allegations that Greg Blatt, Match’s Chairman and CEO (who had recently
been placed as Tinder’s “interim” CEO) groped and sexually harassed
another Tinder executive in December 2016, in order to allow Blatt to
remain at the helm of Tinder to facilitate the scheme, leaving several
months later with a lucrative golden parachute reportedly worth millions
of dollars.
KSF’s investigation is focusing on whether IAC/InterActiveCorp’s
officers and/or directors breached their fiduciary duties to
IAC/InterActiveCorp’s shareholders or otherwise violated state or
federal laws.
If you have information that would assist KSF in its investigation, or
have been a long-term holder of IAC/InterActiveCorp shares and would
like to discuss your legal rights, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner
Lewis Kahn (lewis.kahn@ksfcounsel.com),
or visit https://www.ksfcounsel.com/cases/nasdaqgs-iac/
to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities, antitrust and
consumer class actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner,
877-515-1850
lewis.kahn@ksfcounsel.com
