The Saltlist

Satire in the Age of Letters and Technology- more than just a pinch of it.

Zuckerberg v/s the Winklevoss Brothers: Twins get a Setback

By Naina Jethalia

The six-year legal feud between Facebook founder, Mark Zuckerberg, and his arch enemies, the identical twin brothers, Tyler and Cameron Winklevoss, came to an end when a federal appeal court upheld the agreement signed in 2008 that gave them $65 million in cash and stocks. The Winklevoss twins, who claim that Zuckerberg stole the idea of the ‘Facebook’ project, were vanquished in their attempt to get more money off the networking site. The brothers had approached the courts to undo the agreement saying that the value of Facebook’s stock was more than what Zuckerberg and his team had mentioned earlier. A three judge panel on Monday declared that brothers cannot back out from the agreement. The value of the agreement, in present, is a whooping $200 million, according to estimates by experts.

The settlement of $65 million dollars included $20 million dollars cash and 1.2 million worth of Facebook shares. The twins, along with their partner Divya Narendra, argued that the Facebook team had deceived them about the actual price. The shares, they asserted, were worth $35.90 and not $8.88, leaving them with much less than what they deserved.

According to Alex Kozinski, the Chief Judge of the United States Court of Appeals for the Ninth Circuit, the lawsuit had to come to an end at some point. But his decision did not convince the twins, who believe their case still holds solid ground. Apparently, the twins said through their lawyers that they want their case to be heard in all appeal courts. With Facebook’s ever-rising and inflating value, lawsuits in the future shall not be a surprise.

While Zuckerberg has thwarted the Winklevoss brothers ‘poke’ for now, this battle of wits promises to become bigger with each passing day. Let’s hope Zuckerberg’s ‘wall’ serves as a defensive shield against this fiery duo.

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6 comments on “Zuckerberg v/s the Winklevoss Brothers: Twins get a Setback

  1. Nikunj Jethalia
    April 18, 2011

    Nice Article.

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    December 30, 2011

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    December 31, 2011

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  4. jiimmy
    January 9, 2012

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  5. jiimmy
    January 15, 2012

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  6. samrecco
    May 21, 2012

    now the brothers have come up with a new social networking site. read here
    http://www.youngconcepts.in/2012/05/new-social-networking-site-by-persons.html

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This entry was posted on April 16, 2011 by in International.

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