Monday, April 11, 2011
Facebook Wins Winklevoss Appeal
Today, Facebook won an appeal against the Winklevoss brothers. The film "The Social Network" featured the lawsuit the Winklevosses filed against Facebook and Mark Zuckerberg, claiming that they and not Zuckerberg invented the concept for Facebook. The parties settled the case for a reported $65 million in cash and stock. However, the Winklevosses claimed the settlement was invalid. Facebook asked the courts to confirm the settlement, which a trial court did awhile ago and which the Ninth Circuit Court of Appeals did today. Here's the opinion. Of course, the stock is worth even more now, so don't feel too sorry for the Winklevosses.
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