Winklevoss twins still refuse to accept $65 million Facebook settlement

by Steven Mostyn - Apr 12 2011, 09:23

Despite having already signed off on a multi-million dollar settlement regarding the whole ‘who created Facebook’ affair, defeated claimants Cameron and Tyler Winklevoss have remained staunch in their refusal to cease legal pursuit against Facebook founder Mark Zuckerberg.

However, the twins’ eight-year battle may have finally ended this week after the 9th U.S. Circuit Court of Appeals ruled that the disgruntled Harvard graduates must accept the existing 2008 deal, which amounts to a whopping $65 million USD in cash and stock.

“The Winklevosses are not the first parties bested by a competitor who then seek to gain through litigation what they are unable to achieve in the marketplace,” wrote Chief Judge Alex Kozinski on behalf of the court’s unanimous three-judge panel

“At some point, litigation must come to an end,” he added. “That point has now been reached.”

Clearly not satisfied with their $65 million USD settlement—when Facebook has an estimated worth of $55 billion USD—the brothers Winklevoss are seemingly not yet willing to close the book on the already drawn-out saga.

Specifically, their legal team has reacted to the Court of Appeals’ ruling by saying it will seek to secure another rehearing before the end of April.

“In my judgment, the opinion raises extremely significant questions of federal law that merit review by the entire Ninth Circuit Court of Appeals,” announced Jerome Falk, one of the Winklevoss team, in a statement.

Sadly for Zuckerberg and Facebook, as one piece of controversy seems to be (finally) fading from view, another is looming large on the horizon.

More pointedly, New York software developer Paul Ceglia has this week announced he intends to seek litigation against Facebook on the grounds that he holds 50 percent of Zuckerberg’s equity in the social networking service.

According to Ceglia, who’s been dismissed by Facebook as “a scam artist”, he has a 2003 email sent by Zuckerberg that backs his legal claim.

Around the Web