Winklevoss Twins Throw in the Towel, Will Make Do with Paltry $65 Million Settlement

Posted 06/23/2011 at 7:17am | by Paul Lilly

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Twins Cameron and Tyler Winklevoss are finally resigned to the idea of scraping by with what amounts to a $65 million settlement with Facebook and its founder Mark Zuckerberg. The twins said they will not be taking their appeal to the Supreme Court, the only venue left after lower courts failed to find reason to revise their original settlement agreement, thus ending a long legal dispute over whether or not they should receive a larger slice of the social networking site's pie.

You may recognize the Winklevoss twins from the 2010 film "The Social Network" in which their feud with Mark Zuckerberg over the creation of Facebook was dramatized. The twins accused Zuckerberg of stealing their idea for what would ultimately become the world's most popular social networking site and ended up with a cash and stock settlement valued at around $65 million.

Years later the twins decided to go after more money, claiming that Facebook hid information about its true value at the time the original settlement was made. The notion was shot down in court and in appeal, and while the twins said they would take their appeal to the Supreme Court, they've now changed their minds after "careful consideration," Reuters reports. No reason was given for the sudden 180.