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Court Rejects Winklevoss Twins' Facebook Appeal 106

Posted by Soulskill
from the zuckerberg-likes-this dept.
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."
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Court Rejects Winklevoss Twins' Facebook Appeal

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  • A social media post without replies? Irony.

  • by Anonymous Coward

    [Like]

  • by Warbane (2034760) on Monday April 11, 2011 @08:23PM (#35787842)
    ITT: Commenters who have seen The Social Network and, accordingly, are now experts on the matter.
  • and thats probably the first and only time i'll get to say that
  • Made my day.. (Score:5, Insightful)

    by NovaSupreme (996633) on Monday April 11, 2011 @08:25PM (#35787862)

    ""The Winklevosses are not the first parties bested by a competitor who then seek to gain through litigation what they were unable to achieve in the marketplace."
    I wish judiciary was that clear and just in other cases, but this comment made my day.

    • Re:Made my day.. (Score:5, Interesting)

      by NovaSupreme (996633) on Monday April 11, 2011 @08:45PM (#35788060)

      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..

      • by Toam (1134401)
        Off topic and what not, but sobering is an understatement....
      • by gfody (514448)
        that article is amazing. that guy needs to go on a vigilante shooting spree just to make things right!
        • by Fluffeh (1273756)

          that article is amazing. that guy needs to go on a vigilante shooting spree just to make things right!

          No, two wrongs don't make a right. What this guy needs is a civil suit that can't be overturned :)

      • by cthulhu11 (842924)
        It's hard to predict what will/won't take off. I never thought Amazon would grow to the giant are today rather than being a steady but niche company. More recently, who the heck would have predicted the absurd valuation that GroupOn seems to have?
      • Somebody tell me again how much Bill Gates duped out for DOS?
        Creative folks never tend to think of the value of their creations, that's up to the marketing whores to do.
  • Winklevi

    • by glwtta (532858)
      Winklevi

      Don't see how. It seems to be Germanic, so "Winklevossen" or "Winklevosse", but could be any number of other things.

      Or are we just assuming that all words have second declension Latin roots?
  • You know, they accepted the settlement. They could have held out if they wanted to gamble. They chose to pull their money off black when they were ahead and leave the casino. I'm afraid I feel no unhappiness for them at all. Greedy bastards, and I don't believe that's a term I've ever used before here on /. Doesn't mean I haven't thought it though :)

  • Hacks (Score:1, Troll)

    by Meatbucket (2039104)
    Winklevoss twins area a bunch of hacks who could never have come close to making anything close to Facebook. They wanted to make a local online Harvard directory, but couldn't do it themselves so they wanted to use Zuckerberg to make it for em. Zucks thought of something better called Facebook and kept them out of the loop. Well played Zucks, the jocks can suck it!
    • by ecorona (953223)
      There's no telling if the Winklevii would have taken the site in the same direction did if they weren't screwed over. Facebook was initially local as well.
      • by Joce640k (829181)

        There's no telling if the Winklevii would have taken the site in the same direction...

        I think we can be pretty sure they wouldn't have. In all probability one of the other sites (and there were plenty) would have 'won'.

        • by ecorona (953223)
          > I think we can be pretty sure they wouldn't have I disagree. The Winklevii had the exclusivity to Harvard thing down first, which arguably made facebook what it is. The concept that they'd expand is perfectly logical as more users = more $$$.
  • by chazzf (188092) <[gro.thguohtpeed] [ta] [notlufc]> on Monday April 11, 2011 @09:09PM (#35788234) Homepage Journal
    Full opinion, from the 9th Circuit, here: http://www.ca9.uscourts.gov/datastore/opinions/2011/04/11/08-16745.pdf [uscourts.gov].
  • 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

    How they made out ought to be irrelevant. Either they got cheated or they didn't. If they did, they would have made out even better.

    The court's statement is like saying, "sure, someone stole your money. but you have lots of other money, so it's ok".

  • for people that didn't actually do any of the actual *work*. The Winklevi are like the ultimate PHBs, but worse.
    • by lymond01 (314120) on Tuesday April 12, 2011 @01:05AM (#35789712)

      Actually you're right, but not for the reason you think. They hired someone to do some coding for a very good idea they had. What they failed to do is manage him properly and get a proper contract signed. They had a great idea but zero business sense -- which is understandable as they were Harvard undergrads. I'm kind of surprised they're getting any money at all. That being said, Facebook guy is a douche. And the world, legal loopholes or no, would be better with less douchiness.

  • "Told them???" (Score:2, Insightful)

    by Anonymous Coward

    The illusion that the company is "worth $50 billion" would evaporate rapidly if an actual effort were made to liquidate it.

    • by Vegeta99 (219501)

      Considering their product is user's eyeballs, and I still have my facebook account, let's please not try and liquidate the company.

  • ...and quite yer whining you rich wankers!
  • From the Opinion:

    The parties agreed that Facebook would swallow up Con- nectU, the Winklevosses would get cash and a small piece of Facebook, and both sides would stop fighting and get on with their lives.

    Couldn't agree more

  • by Nyder (754090) on Tuesday April 12, 2011 @01:13AM (#35789756) Journal

    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?

    • by lewko (195646)

      No. You forgot the bit where another clueless dude watches movie and thinks he knows everything. Still is clueless.

    • Re: (Score:2, Interesting)

      by 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 e

      • 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.

        That depends on which side of the curtain you reside upon. =D

    • by osgeek (239988)

      It was a movie, dude. Zuckerberg has had a girlfriend since about the same time he started working on Facebook. So he's clearly not lonely, he's extraordinarily successful, and he's obviously brilliant.

      Speaking of losers, how many movies about your life do you think Zuckerberg has watched?

    • by wamatt (782485) *

      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?

      I don't think factually anyone can say he is a loser by any objective measure. I suspect it might make you feel better to see him as one though.

      I find his loyalty refreshing and principled. He could quite easily get a much hotter GF.

      Furthermore I have huge respect for the force behind Facebook. Visionaries always have many real losers (as in those that continually fail to make any meaningful success or impact on the world) who are insecure about themselves and project that on.

      You probably won't read up on i

  • "The Winklevii".

    Best movie line I've heard in years. Had me rolling in my seat.

    Also, the only good thing about these guys, as near as I can tell (yes, based on more than The Social Network). They fed meat to a shark and then complained when they had no dinner. Better luck next time.

  • While it may be that they were massively screwed (I honestly couldn't say), they are wealthy.

    They will live in comfort for the rest of their lives, they are now famous, and their kids futures are secure.

    Can't really feel too sorry for them.

    • From what I have seen and read, they were well off to begin with. I think they were already going to be well off even without the lawsuit. The settlement was more like giving Jay Leno as Lamborghini for his collection than giving two guys a good life they might not have otherwise had.
  • This is why if you come up with an idea, you don't hire anyone without an NDA with a noncompete clause (and you incorporate in a legally friendly state). Why the hell would you want the programmer you hire to just flip you the bird and start the same project under a new name, knowing that you have nobody else to replace them immediately?

    I often hear people call Mark Z a loser. Why? Well, let's assume that his little stunt backfired, and the Winklevoss twins found another programmer and ran ahead full
    • by osgeek (239988)

      I beg to differ. An initial idea is worth almost nothing. The initial ideas for social network sites were already out there. People have great ideas all the time that they just don't do anything with. I started my career right before the Internet took off and lived in Silicon Valley hanging out with people from Apple, Netscape, Exodus, Sun, etc. Whenever the next big idea hit like Ebay, some acquaintance would say, "Damn, I had that idea 2 years ago."

      Yeah, well, ideas are barely worth shit.

      Discriminati

  • ...nor should they be. Get over it.
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