Winklevoss twins give up Facebook fight

The twins had tried to back out from an earlier US$65 million settlement

The Winklevoss twins have decided to drop their long-drawn legal battle with Facebook and its founder and CEO Mark Zuckerberg, and accept an earlier US$65 million settlement.

Tyler and Cameron Winklevoss and Harvard classmate Divya Narendra on Wednesday said in a filing through their lawyers to the United States Court of Appeals for the Ninth Circuit that "after careful consideration" they would not appeal to the U.S. Supreme Court.

The twins, who claimed that they, and not Zuckerberg, came up with the idea for Facebook, settled in 2008 in a cash-and-stock deal. They subsequently tried to undo the settlement, saying they were misled by Facebook about the value of the company's shares they received as part of the deal.

The U.S. federal appeals court turned down in April a request by the Winklevoss twins to release them from their settlement.

The Winklevoss twins had settled their dispute and signed a release of all claims against Facebook, Chief Judge Alex Kozinski wrote in the decision. The deal appears quite favorable in the light of recent market activity, Kozinski said in a reference to Facebook's increased valuation since the settlement.

The Winklevoss twins did not give a reason for deciding not to appeal to the Supreme Court. As the court's decision to stay issuance of the mandate in the case was premised upon the possibility of further appellate review, the "appellants no longer oppose issuance of the mandate, and have no objection to vacatur of the stay of issuance of mandate", according to the filing.

The lengthy legal dispute between Zuckerberg and his three Harvard classmates was dramatized in the 2010 movie "The Social Network".

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags internetFacebooklegalintellectual propertyCivil lawsuitsTyler WinklevossCameron Winklevoss

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

John Ribeiro

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?