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Class-Action Suit Filed vs. Diller’s IAC

By Multi Channel News Staff -- Multichannel News, 9/21/2004 1:05:00 PM

A securities class action was filed against InterActiveCorp on behalf of shareholders who purchased, converted, exchanged or otherwise acquired its common stock from March 19, 2003-Aug. 4, 2004.

The Law Offices of Charles J. Piven P.A. said Tuesday that Barry Diller’s IAC and “one or more of its officers and/or directors … violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the class period, which had the effect of artificially inflating the market price of the company's securities.”

The suit was filed in the United States District Court for the Southern District of New York.

The law firm is based in Baltimore.

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