IAC lashed out on Tuesday at an effort by John Malone’s Liberty Media to seize control of the internet and e-commerce company, calling the move “preposterous”.

The comments came in response to a legal action filed by Liberty on Monday that seeks the ousting of chief executive Barry Diller from IAC’s board, as well as the replacement of several other directors, including Mr Diller’s wife, Diane Von Furstenberg, music mogul Edgar Bronfman and the investment banker, Steven Rattner.