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Article: Malone Suit Vs. Diller Is Dismissed
- Article from:
- The Washington Post
- Article date:
- March 29, 2008
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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In the throwdown between media tycoons Barry Diller and John
Malone, score the latest round for Diller, chairman of IAC/
InterActiveCorp.
The Delaware Chancery Court yesterday dismissed a lawsuit brought
by Malone that aimed to oust Diller and six directors from his own
company. Diller is trying to break IAC into five publicly traded
companies, and Malone, an IAC shareholder, disagrees with the way
Diller wants to do it.
When Malone filed his suit in January, Diller called it
"preposterous" and said Malone's company, Liberty Media, had "gone
off the deep end."
Yesterday, Stephen P. Lamb, a vice chancellor on the court,
largely agreed, albeit in drier language, saying that Diller's plan
does ...