Federal Judge Tells Winklevoss Twins to Deal with it

April 12th, 2011 at 5:13 am
 


A federal judge has ruled that the Winklevoss twins will have to accept their original settlement with Facebook worth US$65 million, now valued at $100 million.

The 9th Circuit Court of Appeals, headed by Federal Appeals chief Judge Kozinski, has backed up the lower court ruling, saying “the Winklevosses are not the first parties bested by a competitor who then seek to gain through litigation what they were unable to achieve in the marketplace.” The court added that it would have decided in favor of the Winklevosses had they not settled their dispute and signed a release of all claims against Facebook.

The Winklevosses, along with Harvard student Divya Narendra, filed a lawsuit against Facebook in 2004, accusing fellow student Mark Zuckerberg of stealing their idea for a college social network CONNECTU and turning it into Facebook. The $65 million settlement was reached in 2008, but for some reason the twins backed out.

Source: TechCrunch, photo by RandomNightOut.com

 

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