Skip to main content

Facebook Lawsuit and Reopen

Facebook Lawsuit and Reopen - The good-looking, all American brothers - whose intellectual property lawsuit against Facebook founder, Mark Zuckerberg, was portrayed in the biopic The Social Network - are challenging the $65 million dollar settlement with the social networking company.

In the movie, the rowing jocks were portrayed as being reluctant to sue Zuckerberg, claiming it wasn’t the “Harvard way”, to chase the Facebook founder across the courtyard spoiling for a fight.

But life, as they say – isn’t a movie.

Not satisfied with their $65 million dollar payout, the twins (who come from one of the richest families in America) are appealing their settlement in the belief they are entitled to more - as much as $460 million more.

Facebook Lawsuit and Reopen

Their company, ConnectU, filed against Zuckerberg in 2007 alleging he stole their idea for a social networking site after they hired him to work on their website “HarvardConnection”.

They settled in 2008, accepting a $65 million payout, including $45 million in private Facebook stock.

Cameron and Tyler Winklevoss are alleging that Facebook engaged in securities fraud, leaving out important information pertaining to the companies' true worth.

As a result, the brothers say they were granted fewer shares than they were entitled to.

The twins are claiming they only discovered that Facebook was using an internal valuation of $3.7 billon after they signed the settlement agreement.

Facebook Lawsuit and Reopen

Comments

Popular posts from this blog

Urban Meyer Stepping Down

Urban Meyer Stepping Down - Well, it appears as if it’s deja vu all over again.

Less than 12 months after retiring and then un-retiring, Urban Meyer is apparently stepping down as Florida’s head coach. There’s no word on if he will be stepping back up tomorrow.

Urban Meyer Stepping Down

According to Todd Wright of Sporting News radio, GatorUpdates.com and AOL Fanhouse‘s Brett McMurphy Meyer will announce at a 5 p.m. ET press conference Wednesday that he is resigning/retiring as the Gators’ head coach. There are no further details available at this time, other than GatorUpdates reporting over the weekend that Meyer checked into a hospital the week of the UGA game and has been undergoing tests since.

Obviously, we’ll have more on this story throughout the day and well into the night…

Urban Meyer Stepping Down

Matt Cassel Undergoes Appendectomy

Matt Cassel Undergoes Appendectomy - The mystery of Matt Cassel missing practice Wednesday coupled with the Kansas City Chiefs promoting quarterback Tyler Palko has been solved.

The team has announced that Cassel underwent an appendectomy on Wednesday morning. The Chiefs say they expect Cassel to return to work this week. Returning to work and being ready to perform well in the team’s biggest game of the season on Sunday against San Diego are two different things. ESPN’s Adam Schefter is reporting the Chiefs are viewing Cassel as being questionable to play in the game.

Clearly, this is terrible timing. The Chiefs are 8-4 and would take a major step toward the playoffs with a win over the Chargers. Cassel has played very well for the past two months. If he can’t play, the brittle Brodie Croyle would face the Chiefs in his first action of the season. Croyle last played in Week 13 of the 2009 season.

Matt Cassel Undergoes Appendectomy

Cassel’s availability will come down to whether he…

100-calorie Packs Diet

100-calorie Packs Diet - Did you know recent studies show chronic dieters tend to consume more calories when foods and packages are smaller? Consumer behavior was observed in the study regarding "mini-packs," 100-calorie food packages that are marketed to help people control calorie intake.

The study revealed that one group that over-consumes the mini-packs is chronic dieters - individuals making a conscious effort in trying to manage their weight and food intake.

This shows that the distorted perception of small packages may actually undermine dieters' attempts to limit calories.

Consider this: Consumers perceive the mini-packs to be a generous portion of food - numerous small food morsels in each pack and multiple mini-packs in each box - while on the other hand, consumers perceive the mini-packs to be diet food. For chronic dieters, this perceptual dilemma causes a tendency to overeat, due to their emotion-laden relationship with food.

In a series of focus group studi…