Winklevoss Can Not Complain: U.S. court has ruled that the twins Winklevoss can not complain about 20 million U.S. dollars of their settlement with Facebook founder Mark Zuckerberg.
The twins said that Facebook was their idea and that Zuckerberg had stolen, leading to a court battle that lasted six years.
Finally, an agreement was reached in 2008 between Zuckerberg, Tyler and Cameron Winklevoss and Divya Narendra, the fourth person who claims to have been in the creation of social networking website.
The settlement involved a cash payment of $ 20 million (£ 12.2 million) and from Facebook, which is much more in the long term. Full payment is over $ 160 million (97.8 million pounds) today, thanks to the growing success of Facebook.
But the brothers Winklevoss later claimed they were misled, because the settlement was negotiated. They said the market capitalization of Facebook was different from what we had told them they were under the impression that each share was worth $ 35.90 (£ 21.94) due to investment Microsoft, but in reality the shares were only worth $ 8.88 (£ 5.43). The brothers claimed that they have requested more units when they were worth less.
The judge did not believe that the twins had been deceived, however. He said they were "sophisticated parties" with "a half-dozen lawyers in mediation." In other words, they knew what they were getting into.
He added that "at some point, the litigation ended. This point is now reached, "according to Press Association.
Gemini can appeal all the way until the U.S. Supreme Court. Their lawyers say in deciding what to do next.
The twins said that Facebook was their idea and that Zuckerberg had stolen, leading to a court battle that lasted six years.
Finally, an agreement was reached in 2008 between Zuckerberg, Tyler and Cameron Winklevoss and Divya Narendra, the fourth person who claims to have been in the creation of social networking website.
The settlement involved a cash payment of $ 20 million (£ 12.2 million) and from Facebook, which is much more in the long term. Full payment is over $ 160 million (97.8 million pounds) today, thanks to the growing success of Facebook.
But the brothers Winklevoss later claimed they were misled, because the settlement was negotiated. They said the market capitalization of Facebook was different from what we had told them they were under the impression that each share was worth $ 35.90 (£ 21.94) due to investment Microsoft, but in reality the shares were only worth $ 8.88 (£ 5.43). The brothers claimed that they have requested more units when they were worth less.
The judge did not believe that the twins had been deceived, however. He said they were "sophisticated parties" with "a half-dozen lawyers in mediation." In other words, they knew what they were getting into.
He added that "at some point, the litigation ended. This point is now reached, "according to Press Association.
Gemini can appeal all the way until the U.S. Supreme Court. Their lawyers say in deciding what to do next.
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