Appeals court won't reconsider Facebook settlement

May 16, 2011

A federal appeals court has refused to reconsider its decision ordering two former Harvard classmates of Facebook founder Mark Zuckerberg to accept a multimillion dollar settlement over the company.

Twins Cameron and Tyler Winklevoss sued Zuckerberg, saying he stole the idea for the social networking site. Both parties reached a settlement in 2008, but the Winklevosses claim they were misled during settlement talks.

Last month, a three-judge panel of the 9th U.S. Circuit Court of Appeals upheld the settlement, which calls for a $20 million cash payment and stock in the company now valued in the tens of billions.

On Monday, the court declined to assign the case to a special 11-judge panel for reconsideration.

The Winklevosses still could appeal to the U.S. Supreme Court.

Tyler Winklevoss declined comment Monday.

Explore further: Google's new CFO gets $70M for defecting from Morgan Stanley

3 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Court: Harvard twins stuck with Facebook agreement

Apr 11, 2011

A federal appeals court ruled Monday that former Harvard University schoolmates of Facebook founder Mark Zuckerberg can't undo their settlement over creation of the social networking site.

Court hears challenge to $65M Facebook settlement

Jan 12, 2011

(AP) -- Former Harvard University classmates of Facebook founder Mark Zuckerberg want to throw out a $65 million settlement of their lawsuit that alleged the social network was their idea. ...

Winklevoss twins seek another Facebook hearing

Apr 18, 2011

Tyler and Cameron Winklevoss asked Monday for a rehearing of a court ruling that they can't back out of the settlement deal they made in a lawsuit charging that Mark Zuckerberg stole their idea for Facebook.

Facebook saga grows with new legal drama

Apr 12, 2011

The drama of the Facebook story heightened as a man with a shady past used old emails and a powerful law firm to press his claim to half the online social networking firm.

ConnectU faces skeptical judges in Facebook appeal

Jan 11, 2011

A skeptical panel of judges is mulling whether Facebook founder Mark Zuckerberg duped former Harvard classmates in a $65 million settlement of a lawsuit charging that he stole the idea for the website recently ...

Recommended for you

Yahoo boosts share buyback plan by $2 billion

3 hours ago

Yahoo on Thursday told US regulators that it will spend another $2 billion buying back shares as the pioneering US Internet search firm continues an effort to re-invent itself.

Uber ramps up safety efforts after criticism

Mar 25, 2015

Uber said Wednesday it was ramping up safety in response to rape allegations against a driver in India and growing concerns about background checks for operators of the popular ride-sharing service.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.