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: Nokia turnaround since handset unit sale continues

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

Tech firm fined for paying workers $1.21 per hour

1 hour ago

A Silicon Valley company is paying more than $43,000 in back wages and penalties after labor regulators found eight employees imported from India were being treated like they were in an overseas sweat shop while they were ...

Comcast wins more Internet customers, ad sales up

4 hours ago

Comcast Corp.'s third-quarter net income jumped 50 percent in the third quarter, helped by a one-time tax settlement, growth in Internet subscribers and fewer defectors from its cable service.

Netflix to stream new online TV series, 'Bloodline'

5 hours ago

Fresh from commercial and critical success with hit shows "House of Cards" and "Orange is the New Black," Netflix on Thursday announced a new online series, "Bloodline," set for release in March.

Yahoo CEO defends strategy in face of criticism

13 hours ago

Signaling her reign has reached a pivotal juncture, Yahoo CEO Marissa Mayer is trying to convince restless shareholders that the long-struggling Internet company is heading in the right direction.

User comments : 0