Tags: Facebook | Winklevoss | Twins | Want | More

Facebook Fracas: Winklevoss Twins Want More

Friday, 31 Dec 2010 10:41 AM

In a 2008 settlement with social networking titan Facebook, Tyler and Cameron Winklevoss garnered a windfall now estimated at more than $140 million over charges that founder Mark Zuckerberg (pictured) stole their idea. But now they want to undo that settlement, claiming they are owed more – perhaps $500 million, The New York Times reports .

facebook, suit, zuckermanThe settlement amounted to $20 million in cash and $45 million in Facebook shares – the company is still privately held. The shares have more than tripled in value on private exchanges since then. But the Olympic-rowing twins say they should have received more, because Zuckerberg and Facebook deceived them about the shares’ true value.

Next month, the Winklevoss’ plan to ask a federal appeals court in San Francisco to dump the deal so they can pursue their original case and obtain a bigger payout. The risk is they may end up with nothing.



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In a 2008 settlement with social networking titan Facebook, Tyler and Cameron Winklevoss garnered a windfall now estimated at more than $140 million over charges that founder Mark Zuckerberg (pictured) stole their idea. But now they want to undo that settlement, claiming...
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2010-41-31
 

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