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
Labels:

Comments

Post a Comment

Popular posts from this blog

Contactless Debit Cards

Contactless Debit Cards - Contactless debit cards will make their formal debut in Canada next year with the launch of Interac Flash from Acxsys Corp.’s Interac Association, Canada’s national debit network. Interac’s first two Flash issuers are Scotiabank and RBC Royal Bank, which will roll out their first contactless cards next summer. The first acquirer is TD Merchant Services, a unit of Toronto-Dominion Bank. More issuers and acquirers are on the way, an Interac spokesperson tells Digital Transactions News, though no announcements have been made yet. Interac and the banks tested Flash this summer at some high-volume, small-ticket merchants in downtown Toronto. The spokesperson expects national merchants will be making formal announcements about acceptance. “There’s a lot of excitement in the merchant community,” she says. “Merchants are looking for that faster throughput.” In a statement, the Retail Council of Canada endorsed the new card. “Interac Flash is a welcome and needed
Post a Comment
Read more

Farm dogs maul Irish Tourist

Farm dogs maul Irish Tourist - An Irish tourist who was mauled to death by two dogs while visiting an organic farm in Penang yesterday morning had more than 50 bite wounds and lacerations all over his body. Penang Hospital Forensic Department head Datuk Dr Bhupinder Singh, who performed the post-mortem on Maurice Sullivan (pix), 50, today, said he found the wounds on the victim's head, neck, hands and legs. "The victim had died as a result of severe haemorrhage due to multiple injuries from the dogs' bites," he said, adding that there were no signs that Sullivan suffered any ailment at the time of death. Farm dogs maul Irish Tourist Bhupinder also said both Sullivan's ears and the left side of his face were gnawed off in the incident. One of the ears was recovered from the scene. Bhupinder told reporters this after carrying out the post-mortem which began at 10am. Sullivan was attacked by two mongrels at the farm while taking photographs of the gr
6 comments
Read more

The Craigslist Killer TV

The Craigslist Killer TV - Lifetime last night turned the Craigslist killer headlines into a much watched and even more talked about TV movie. The movie told from Ms Megan McAllister’s point of view is chilling, even if it didn’t have her consent. For those who don’t know the story, Philip Markoff a Boston University medical student and fiancé of Ms McAllister met Julissa Brisman on Craigslist and murdered her. Markoff met Brisman on Craigslist, arranged a meeting for a massage. Police at the Boston Marriott Copley Place hotel found Brisman, shot dead and a massage table set up in the room. Brisman, who was 25 at the time, was pursuing a modeling career. Four days earlier a Las Vegas prostitute reported being attacked and robbed by an armed man at a nearby hotel, a stripper at the Holiday Inn in Warwick, Rhode Island reported a similar incident, as well as two more in the area. The Craigslist Killer TV Megan Mcallister, loved and almost married Philip Markoff. The question of thi
Post a Comment
Read more