Twins Unhappy with $65 Million Facebook Settlement
If you've seen the movie "The Social Network," then you're familiar with Cameron and Tyler Winklevoss, the twin brothers who accused Mark Zuckerberg of stealing their idea. Zuckerberg and the entire Facebook organization have always denied the charges, but the twins did walk away with a $65 million settlement ($20 million in cash, $45 million in Facebook shares). The only problem is, they forgot to walk away.
Now the two brothers are trying to convince a U.S. appeals court to negate the settlement so they can go after more money, Reuters reports. The argument is that based on an internal valuation that Facebook didn't disclose, they're owed more shares than what they received.
As far as Facebook is concerned, they're under no obligation to release those figures, and if the Winklevoss twins were interested in that info, they should have asked for it at the time of the settlement. This do-over that they're seeking is the result of them "suffering a bout of settlers' remorse."
A federal trial court judge has already refused let the twins (along with friend Divya Narendra, the three of which formed a company called ConnectU while at Harvard) out the original settlement, and the case is now being heard at the 9th Circuit.

Image Credit: doubledt.com
Comments
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Jenova Strife
January 21, 2011 at 9:45am
If there was ever a guarantee that there will be an obtuse and possibly completely irrelevant ruling, that is it. Has the 9th circuit ever had a significant ruling that wasn't eventually slapped around and reversed?
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eastbayrae
January 13, 2011 at 1:02am
I think this same news was on the Today show over two months ago.
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Rogue74
January 12, 2011 at 7:22pm
Take the money and run! Just put that in the bank and invest it and you're set for life.
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ShyLinuxGuy
January 12, 2011 at 12:33pm
There are going to be hundreds, if not thousands, of people who claim you stole an idea if you ever take that idea and capitalize on it. It ALWAYS happens. What more do these guys want, though? They're lucky to even get a settlement, because it's pretty cut and dried that Facebook is a social networking venue, and there's not much to it. It's like MySpace 2.0. It always happens: when there's a big revolution in something, other companies come out of the woodwork and want a piece of the pie without working for it. Look at Apple when Microsoft came out with Windows 3.1? (this happened right before I was born I think). Apple sued Microsoft, saying they copied, when the darn interfaces were two totally different things? Apple expected Microsoft and probably other companies producing OSes to stay in the command-line era! These lawsuits, which are usually frivolous, need to be saved for something more relevant.
This little rant here is someone who doesn't really care for Facebook (the privacy problems), but I guess I'm one of the few that believe in giving credit where credit is due, regardless of other situations. Facebook was started as another social networking utility, not too different from the other ones (at least in my perspective), and grew in popularity. Simple as that.
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Modroneman
January 12, 2011 at 11:59am
The Zuck couldn't reach into his back pocket and pull and quick $500 Mil out for these guys? Hmm....
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PCLinuxguy
January 12, 2011 at 7:22am
these jerks are just greedy. so what if the site was big, they're getting alot of money and should be greatful for it considering the lousy economy and others struggling to make ends meet. If they don't want the money, send it my way!
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leetNightshade
January 12, 2011 at 9:19am
If you created a multi-billion dollar entity, you sure as hell wouldn't settle for lousy millions of dollars when you got cheated out of something you deserve the credit for.
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nlriehl87
January 12, 2011 at 9:38am
While I see your point, these guys were lucky to get what they got. Life isn't fair and sometimes you just have to cut your losses. The way I see it is these guys are $65 million richer and while they aren't getting billions, when was the last time you cut your losses and ended up with more money than you started with?
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popstop785
January 12, 2011 at 4:45pm
Seriously, they are set for life finacially (while many othe people are struggling in this economy) and they want more? Travel the world, invest, start a family... do something besides whine for MORE money.
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