IAC Case To Be Decided In March

A court ruling on whether IAC/InterActiveCorp (IACI.O) chief Barry Diller breached his proxy agreement with controlling shareholder Liberty Media Corp and can be removed from office is expected in late March, lawyers involved in the case said on Friday.

Delaware Chancery Court Judge Stephen Lamb is expected to issue the ruling by March 28 after the two sides present briefs on the matter on March 21.

In the balance is Diller's job as chairman and chief executive as well as his proposal to spin off four of IAC's largest businesses -- a move originally applauded by the company's outside investors but later opposed by Liberty.

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