Winklevoss twins finally give up fighting Facebook

Winklevoss twins finally give up fighting Facebook

Summary: The Winklevoss twins have finally agreed to accept a $65 million cash and stock settlement with Facebook. They have changed their minds and will not be going to the US Supreme Court.

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Update: They've filed another lawsuit. False alarm: Winklevoss twins to continue fighting Facebook.

Facebook CEO Mark Zuckerberg's former Harvard classmates Cameron Winklevoss and Tyler Winklevoss, who accuse him of stealing their idea for the social network, have decided not to appeal to the US Supreme Court. In a filing today with the federal court in San Francisco, the duo said that after "careful consideration," they decided not to seek Supreme Court review of the $65 million settlement made in 2008, according to Reuters.

The Winklevoss twins, along with Divya Narendra, started a company called ConnectU while at Harvard. They say Zuckerberg stole their idea and created Facebook, an allegation the company vehemently denies. The trio originally agreed to the aforementioned settlement in 2008, but ever since they have been trying to argue that, based on an internal valuation that Facebook did not reveal, they should have received more Facebook shares as part of the deal. In other words, they wanted more than $65 million.

A lower court previously granted Facebook's request to enforce the settlement with the Winklevoss twins and Narendra. Two months ago, a three-judge appeals court panel agreed and ruled that the Winklevoss twins must accept the cash and stock settlement with Facebook valued at $65 million.

Last month, Jerome Falk Jr., the twin’s attorney, said they would appeal the case to the United States Supreme Court, which would have been the last possible option. Now they've changed their mind. It appears that this is the end of Facebook's longest legal saga: it has lasted seven years. Zuckerberg can breathe easy now, and his enemies have to deal with the terrible tragedy of figuring out how to spend $65 million.

"We've considered this case closed for a long time, and we're pleased to see the other party now agrees," a Facebook spokesperson said in a statement.

Topics: Legal, Enterprise Software, Social Enterprise

Emil Protalinski

About Emil Protalinski

Emil is a freelance journalist writing for CNET and ZDNet. Over the years,
he has covered the tech industry for multiple publications, including Ars
Technica, Neowin, and TechSpot.

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17 comments
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  • RE: Winklevoss twins finally give up fighting Facebook

    Well, at least they worked hard for their money.
    UrNotPayingAttention
    • 32.5 million apiece

      @chmod 777
      with a portion of each going towards their lawyers, will still leave them quite enough to live comfortably for the remainder of their lives.

      :|
      Tim Cook
      • RE: Winklevoss twins finally give up fighting Facebook

        @Mister Spock
        They are also members of the social elite. They were never hurting for money.
        hoaxoner
      • RE: Winklevoss twins finally give up fighting Facebook

        @Mister Spock

        Unless they're greedy and irresponsible, in which case the money will be gone well before the end of their lives.

        If they're smart they'll invest the money very conservatively and live off the interest.
        josh92
      • RE: Winklevoss twins finally give up fighting Facebook

        @Mister Spock They were already rich...
        snoop0x7b
  • In short order, people will be forgetting about Facebook

    The same way we forgot about MySpace. Take the money and run!
    happyharry_z
  • RE: Winklevoss twins finally give up fighting Facebook

    From the email: "They have change their minds and will not be going to the US Supreme Court." that should read changed not change.
    Again, you guys need a proofreader. Or horror of horrors, do your own!
    dhays
    • RE: Winklevoss twins finally give up fighting Facebook

      @dhays : Picky over a single letter? Jeez. Someone needs a life.
      Gis Bun
      • RE: Winklevoss twins finally give up fighting Facebook

        @Gis Bun: Today it's a letter, pretty soon a whole article is published in netspeak. The point is, a lack of standards is a slippery slope.
        gksa
  • RE: Winklevoss twins finally give up fighting Facebook

    @dhays... really?!? Go and leave this forum!!! You are the idiot here.
    mcurran
  • Now if they will just spend it

    Given the state of the economy and the ridiculously low interest rate (no one is going to put cash in the bank so the banks will have less money to lend given the cash on hand requirements), it would be great if they'd just spend all of that and put it back in to the economy, in circulation where we need it...
    greggwon@...
  • RE: Winklevoss twins finally give up fighting Facebook

    I wonder if it's true.....
    kentuckywoman2
  • @dhays

    I agree. I am so sick and tired of all the wannabe "writers" who don't know their butt from a hole in the ground. And you can tell who the illiterates in the crowd are - it just doesn't matter to them - to the point of calling someone who corrects grammar/spelling an "idiot". Pay no heed to the DBags out there. Since when is being right wrong?
    EthicalLoner
    • RE: Winklevoss twins finally give up fighting Facebook

      @EthicalLoner

      "Dbags"? Oh the irony!
      Hallowed are the Ori
    • RE: Winklevoss twins finally give up fighting Facebook

      @EthicalLoner

      Being right isn't wrong. Focusing on the typos instead of the article is wrong. Although, it has gotten much worse. Obviously, some post production software is screwing up the grammar and/or spelling and there are no human eyes checking it. It does make it harder to read.
      mlashinsky@...
  • RE: Winklevoss twins finally give up fighting Facebook

    If they are smart, they will invest the money in Facebook IPO. Get the money from FB one way or the other! :)
    bagh11@...
  • Related Social Network Patent Battles

    Great article. We posted a related story on social networking patent battles to Intellectual Property Watch (http://www.ip-watch.org). You can view it here: http://bit.ly/14MbkSS
    Intellectual Property Watch