IAC, Match Group says $30 billion Del. Spinoff Suit falls flat

By Jeff Montgomery (May 4, 2022, 6:25 p.m. EDT) – The attorneys for IAC/InterActive Corp. Barry Diller-controlled Match.com and the directors of the two told a Delaware vice-chancellor on Wednesday that a shareholder disputed a $30 billion 2020 Match reverse spinoff did not show the deal was poorly controlled or unfairly structured.

Arguing before Vice-Chancellor Morgan T. Zurn for the dismissal of the four-count direct and derivative complaint, Maeve O’Connor of Debevoise & Plimpton LLP, counsel for three match manager “severance committee” negotiators , argued that the panel “very clearly used its leverage to benefit Match’s public shareholders.”

After the deal, Match saw a 74% increase in…

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