Like our Facebook Page Subscribe to LTG on YouTube RSS Feed Contact or Tip Us

Winklevoss Twins Drop Case Against Facebook

Radford C. Jun 24, 2011 1
Tyler and Cameron Winklevoss Twins Pissed Off At Table

Yes. We know it's not really them.

I wonder why the change of heart all of a sudden? Maybe they miss rowing? Maybe Zuckerberg was telling the truth that he really “wasn’t using any of their code” even though as The Social Network’s Divya Narenda said Zuckerburg “stole their goddamn idea”. In any case, the fight that inspired a movie has seen its finale – at least from this level. Cameron and Tyler Winklevoss, Harvard University classmates and former partners of Facebook founder Mark Zuckerberg, have decided not to further appeal a settlement in their long-running dispute over the origins of the social-networking site.

This past Wednesday the Winklevosses and Mr. Narendra, who founded a company called ConnectU, filed papers with the U.S. Court of Appeals for the Ninth Circuit in San Francisco saying that after “careful consideration” they wouldn’t file a petition to take their battle to the Supreme Court.

A Facebook spokesman said, “We’ve considered this case closed for a long time, and we’re pleased to see the other party now agrees.”

The original settlement awarded them $20 million in cash and $45 million worth of private Facebook stock at a time the company was valued at $15 billion. But almost immediately after the settlement, the Winklevosses complained that Facebook left out important information during the negotiations, which resulted in them receiving fewer Facebook shares than they might have. Then, they began legal proceedings to throw out the settlement, but a series of courts ruled that it had to stay in place. However, the twins’ move to abandon the case doesn’t bring an end to legal challenges concerning Facebook’s early days.

Via »Source