IAC: The Inside Story

The latest big non-story is that Barry Diller says he did not protect himself against a possible tumble in IAC stock pricing.

Wikileaks.org, which receives and posts documents, received a presentation that J.P. Morgan gave to IAC that allegedly shows how a company can protect itself against a stock plummet.

The document was then posted at Gawker.com. IAC issued a strong denial to Wikileaks: "The suggestion that Barry Diller entered into any hedging transactions is incorrect. Mr. Diller did not directly or indirectly hedge or otherwise insure his shares against a decline."

That being said, the presentation includes PR Newswire examples, issued by various companies, which apparently show how companies can issue public statements that actually foretell of insider protection.