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NEW YORK IAC/InterActiveCorp has asked a court to dismiss legal action by big shareholder Liberty Media, saying its attempt to remove chairman and CEO Barry Diller and other directors could “cripple” the company and threaten its quarterly earnings report.
In a Delaware Chancery Court filing Thursday, IAC accused Liberty of trying to create “management and market chaos” to disrupt its operations.
The IAC move is the latest in an increasingly bitter showdown between the company and longtime investor Liberty, controlled by chairman John Malone.
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