Court Rejects Winklevoss Twins' Facebook Appeal

angry tapir writes "A US federal appeals court has denied a request by the Winklevoss twins to release them from their settlement with Facebook over their allegations that Mark Zuckerberg improperly appropriated their idea for the social networking site. Cameron and Tyler Winklevoss, along with another Harvard classmate, agreed to the settlement in 2008 but the twins later asked a district court to let them back out, saying they were misled by Facebook about the value of the company's shares they received as part of the deal. On Monday, a three-judge appeals court panel sided with the lower court, noting that the Winklevoss twins have actually fared quite well since the settlement was hammered out because the value of Facebook, pegged recently at around $50 billion, means that their shares have more than tripled in value."

Re:Made my day..

[NovaSupreme]

PS: the reason I went so ga-ga over this new was because of a much sobering ruling I saw yesterday - http://www.nytimes.com/2011/04/10/opinion/10thompson.html [nytimes.com] but I digress..

PS2: Since Winklevosses claim to have had the original idea and design, they should have known how much $$ worth was their site. So, how did they got duped by Zuck? Glad judges saw through it..

Eduardo

[Compaqt]

Speaking of greed, the way that Zuckerberg is reputed to have treated Eduardo [wikipedia.org], his partner, and the one who put up all the initial investment money for Facebook is worse than the situation with the W twins.

He is reputed to have taken Eduardo's 30-some percent share down to 0 or so by issuing new stock to venture capitalists while keeping his and Sean Parker's [wikipedia.org] percentages stable.

One phrase for dealing with startups: "non-dilutable shares"

Re:Eduardo

[Anonymous Coward]

look at these people's net worth measured in billions. 10 figures. they could give away a million dollars a day for 3 years and still have more money than the average guy makes in a decade. at that level you're not a weasle or a slimebag - you do whatever the fuck you want whenever you want and thank god you're not one of us. Zuckerberg and Eduardo are still good friends.

Re:Let see if we got this straight.

[Anonymous Coward]

Loser dude, who can't meet chicks on his own, steals idea of social network, fucks over his partners, gets rich, gets laid, still is a loser.

Did i get it all?

Don't be stupid. Even Zuckerberg has openly dismissed the claim made by the movie The Social Network that it was about getting laid. The getting laid part is just the minimal amount of Hollywood spin required to keep a consistency in all works produced that keeps Women whores and Men unproductive from the cheating - its just a form of control with little bearing on the underlying story or on the real-life people the characters are modeled after. Facebook is about controlling people through the sale and exploitation of their personal information - not getting laid.