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Mark Zuckerberg this week prevailed in a suit brought by Tyler and Cameron Winklevoss, but another lawsuit against the Facebook founder gained new life.
Earlier this week, the Ninth Circuit Court of Appeals ruled that the Winklevoss twins can’t undo a settlement with Facebook. The twins had sued Zuckerberg, claiming he stole their idea for Facebook after they brought him on as a developer for a Harvard social network. The twins agreed to settle the case for $65 million in cash and stock, but they later went back to court, saying the settlement was unfair because Facebook hid information from them about the company’s true value. (Facebook is currently valued at more than $50 billion on secondary market exchanges.) The high court said the twins were outsmarted fair-and-square and should just accept the deal.
But the twins may not be ready to move on. They are reportedly going to file a Petition for Rehearing En Banc, which would involve all of the judges on the Ninth Circuit hearing the case. They could also appeal to the Supreme Court.
This last step may be too much, even for the twins. But before we get happy that the “Social Network” saga may be over, another shoe in the scandal has dropped. Paul Ceglia, who sued Zuckerberg last year, unveiled some emails this week that actually seem credible. He has also retained a brand name law firm, DLA Piper. Up to this time, Ceglia’s claims seemed crazy, but these emails actually made me pause.
That brings us to our two-part Question of the Week…