Winklevoss twins take Facebook back to court

Jun 24, 2011
A picture taken in January 2011 shows Cameron (L) and Tyler (R) Winklevoss, founders of social networking website ConnectU, leaving the US Court of Appeals for the Ninth Circuit in San Francisco. The Winklevosses are attacking Facebook on a new legal front after opting not take their California case to the US Supreme Court.

Tyler and Cameron Winklevoss are attacking Facebook on a new legal front after opting not take their California case to the US Supreme Court.

The twin brothers and fellow ConnectU founder Divya Narendra revealed plans to rev up litigation in Massachusetts accusing Facebook of duping them in a deal they made in a lawsuit charging that stole their idea.

for the Winklevosses notified a federal court in Boston on Thursday that they wouldn't appeal a failed California case to the Supreme Court, clearing the way to proceed in a separate lawsuit idling in Massachusetts.

The filing indicated that the Winklevosses intend to commence a "discovery" process aimed at uncovering whether Facebook suppressed evidence while negotiating a settlement with the ConnectU founders.

"These are old and baseless that have been considered and rejected previously by the courts," Facebook attorney Neel Chatterjee said in a statement.

The twins have argued that Facebook held back information about the estimated value of the California-based firm while reaching a $65 million settlement with the brothers.

The twins inked a settlement two years ago that got them $20 million in cash and $45 million worth of stock valued at $36 per share.

The value of that yet-to-be-issued stock has skyrocketed along with Facebook's estimated market value.

The brothers challenged the settlement, which was supposed to be confidential, on the grounds that Zuckerberg suckered them during settlement talks by not revealing Facebook internally valued the stock at $9.

The lower figure would have resulted in the Winklevoss twins getting many more shares.

Lawyers filed legal paperwork on Wednesday saying that the twin brothers will not ask the top court in the nation to overturn a decision the US 9th Circuit made siding with .

The US 9th Circuit Court of Appeals in May rejected a bid by the identical twin brothers to have a full panel of 11 judges second guess a ruling made by a three-justice panel.

The three-judge panel said that litigation in the case "must come to an end" and threw out the bid by the Winklevosses to review the settlement.

Explore further: Weibo IPO below expectations, raises $285.6 mn

add to favorites email to friend print save as pdf

Related Stories

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.

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.

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. ...

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.

Recommended for you

Weibo IPO below expectations, raises $285.6 mn

17 hours ago

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

18 hours ago

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

Fired Yahoo exec gets $58M for 15 months of work

18 hours ago

Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

User comments : 0

More news stories

Hackathon team's GoogolPlex gives Siri extra powers

(Phys.org) —Four freshmen at the University of Pennsylvania have taken Apple's personal assistant Siri to behave as a graduate-level executive assistant which, when asked, is capable of adjusting the temperature ...

Better thermal-imaging lens from waste sulfur

Sulfur left over from refining fossil fuels can be transformed into cheap, lightweight, plastic lenses for infrared devices, including night-vision goggles, a University of Arizona-led international team ...

Deadly human pathogen Cryptococcus fully sequenced

Within each strand of DNA lies the blueprint for building an organism, along with the keys to its evolution and survival. These genetic instructions can give valuable insight into why pathogens like Cryptococcus ne ...