Mfarhanonline Social Media News: Despite recent legal defeats, Tyler and Cameron Winklevoss have decided to take their feud with Facebook and Mark Zuckerberg all the way to the Supreme Court. The twins, made into household names thanks to The Social Network , have been trying hard to rescind the settlement from their lawsuit against Mark Zuckerberg in 2004. The two sides settled in 2008 in a deal worth approximately $200 million today, but have since had a change of heart. In dispute is the market value of Facebook’s stock when the two sides settled, an issue that could quadruple the amount of the settlement. In December 2010 though, the Ninth Circuit Court of Appeals ruled that the settlement would stand . “For whatever reason, they the Winklevosses now want to back out. Like the district court, we see no basis for allowing them to do so," Chief Justice Alex Kozinski wrote at the time. "At some point, litigation must come to an end. That point has now been reached." Apparently the Winklevoss twins don’t agree. On Monday, their law firm released a statement announcing that they would appeal the Ninth Circuit’s ruling. “The law firm of Howard Rice announced that its clients, Cameron and Tyler Winklevoss and Divya Narendra, intend to file a Petition for Certiorari with the United States Supreme Court in the ongoing dispute with Facebook and Mark Zuckerberg,” law firm Howard Rice announced. Howard Rice contends that the Winklevii were defrauded by Facebook and Zuckerberg and that Facebook committed securities fraud during the mediation that resulted in the 2008 settlement. Neither the district court nor the Ninth Circuit have sympathized with the twins, making it unlikely that the Supreme Court will even hear the case. The Supreme Court takes less than five percent of cases and generally only takes cases where constituti! onal iss ues are at stake. More About: Cameron Winklevoss , facebook , mark zuckerberg , Tyler Winklevoss , Winklevoss , Winklevoss twins For more Tech & Gadgets coverage: Follow Mfarhanonline Tech & Gadgets on Twitter Become a Fan on Facebook Subscribe to the Tech & Gadgets channel Download our free apps for Android , Mac , iPhone and iPad Social Media reviews series maintain by Mayya
Tuesday, May 17, 2011
Mfarhanonline:Winklevoss Twins Take Facebook Case to the Supreme Court
Posted by
Unknown
at
12:57 AM
Fav Tag:
http://www.mfarhanonline.com/2011051725715/winklevoss-twins-take-facebook-case-to-the-supreme-court/
Subscribe to:
Post Comments
(
Atom
)
Popular Posts
-
GEO 436 NEW YORK: The world faces the nightmare possibility of fishless oceans by 2050 unless fishing fleets are slashed and stocks allowed...
-
GEO 436 ISLAMABAD: Foreign Minister Makhdoom Shah Mahmood Qureshi on Monday said that Pakistan wanted to assist Afghanistan in capacity bui...
-
Mfarhanonline Social Media News: Behringer Soundscape Dock While this may look like your standard iPhone/iPod doc...
-
Geo 436 KARACHI: The prices of vegetables in vegetable market go down due to tension prevailed in Karachi. Talking to Geo News, Deputy Secre...
-
Geo436 Staff Report ISLAMABAD: Federal Information Minister Qamar Zaman Kaira said on Thursday National Oversight Disaster Management Counci...
-
GEO 436 WASHINGTON: US President Barack Obama will establish an independent presidential commission to probe the huge oil spill from a wrec...
-
GEO 436 JERUSALEM: Israeli Prime Minister Benjamin Netanyahu was to meet on Tuesday with senior members of his cabinet to formulate Israel’...
-
Mfarhanonline Sports News LONDON: England captain Alastair Cook won the toss and elected to bat against Sri Lanka in ...
-
Mfarhanonline Social Media News: Another week, another round-up of top comments on Mfarhanonline ! In this post, ...
0 comments :
Post a Comment