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 Tinders 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 Matchs liability for compensating Tinders shareholders.
Further, the complaint charges that IAC and Match executives covered up allegations that Greg Blatt, Matchs Chairman and CEO (who had recently been placed as Tinders 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.
KSFs investigation is focusing on whether IAC/InterActiveCorps officers and/or directors breached their fiduciary duties to IAC/InterActiveCorps 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 ([email protected]), 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.