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Winklevoss twins get shut down once again

Written by Andre Yoskowitz (Google+) @ 22 Jul 2011 20:57 User comments (3)

Winklevoss twins get shut down once again The Winklevoss twins have been shut down, once again, in their quest to squeeze more money out of Facebook.
US District Judge Douglas Woodlock granted Facebook's request for a dismissal and did not even provide a reasoning.

Original story after the break.

Seven years after they first filed suit against Mark Zuckerberg and Facebook, it seems the legal drama between Cameron and Tyler Winklevoss and the social networking giant is coming to an end.

The twins have dropped their appeal and settled the case, two months after a judge bluntly told them they must accept the deal.

Along with Harvard classmate, Divya Narendra, the twins filed suit against Facebook in 2004 alleging that the concept for Facebook was stolen from them and their early work on HarvardConnection.

In 2008, Facebook agreed to settle, giving the trio a deal worth $65 million ($45 million in stock), with the majority in Facebook stock. At the time, the group was given $45 million in stock with Facebook valued at $15 billion. The twins filed suit again last year claiming Facebook had internally given itself a $3.7 billion valuation, and so the group was conned out of many more shares in the company.

The federal Judge, Alex Kozinski, killed the appeal in April:

At some point, litigation must come to an end. That point has now been reached. 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. They made a deal that appears quite favorable in light of recent market activity.

Regardless, with Facebook now valued at $100 billion the Winklevoss/Narendra shares in Facebook are worth just over $300 million, an appreciation of 660 percent in just three years.

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3 user comments

122.7.2011 21:03

twins = stupid

what more do they want?

twins needs to start their own site if they having issues with facebook unless they already own a site and facebook went to their site and copy everything on there.

This message has been edited since its posting. Latest edit was made on 22 Jul 2011 @ 21:09

222.7.2011 23:03

Originally posted by xaznboitx:
twins = stupid

what more do they want?

twins needs to start their own site if they having issues with facebook unless they already own a site and facebook went to their site and copy everything on there.
Actually, that is why this all started...because facebook copied their site...but damages have already been awarded and now these pricks keep coming back trying to get more. These might be the only two people on earth who the Dean of Harvard has called "Assholes" in public.


323.7.2011 13:01

The only breakthrough these two are going to see in this case is going to be their finger through the cheap toilet tissue while wiping their ass in the rest room between court hearings.

I could could wax moronically, but I would like to keep my account here in the forums...


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