Winklevoss twins lose to Zuckerberg in settlement appeal

Darren Allan

April 12, 2011

If you’ve followed the story of Facebook, or seen the film, The Social Network, then you’ll be familiar with the Winklevoss twins.

The spat between Cameron and Tyler Winklevoss and Mark Zuckerberg was made more famous by the movie, with the twins claiming Zuckerberg stole their idea and turned it into Facebook.

A settlement had been reached – to the tune of cash and stock of around £40 million, according to a report on Sky News – but the Winklevoss brothers claimed when this was negotiated, they’d been misled about Facebook’s true value.

The appeal was lodged because they felt they’d been duped, and would have argued for more if they’d have known then what they know now about the settlement’s value.

But the Chief Judge wasn’t impressed. He dismissed the appeal, informing them: “At some point, litigation must come to an end. That point has now been reached.”

It would seem the twins will now have to accept the settlement, and scrape by on just the £40 million.






 

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