After seven years of lawsuits, the $65 million dollar settlement with Facebook in 2008, and a movie (The Social Network), Tyler and Cameron Winklevoss have ended their battle with Facebook.
According to The Washington Post, they filed a one paragraph court document on Wednesday (June 22nd) stating they would accept the $65 million dollar settlement from 2008.
The Facebook battle was made famous and brought to the public’s attention with the film ‘The Social Network’. The twins were suing Facebook and CEO and co-founder Mark Zuckerberg, claiming he had taken their idea from their project ConnectU and created Facebook.
The twins were appealing the $20 million in cash and $45 million in stock. The 9th U.S. Circuit Court of Appeals ruled against them stating they were represented “by a squadron of Silicon Valley lawyers and their father”. Their stock is now worth more than $100 million.
What was Facebook’s reaction to the news? In a statement they said, “We’ve considered this case closed for a long time, and we’re pleased to see the other party now agrees.”
Are you glad to see this come to a close? According to Facebook, it’s BEEN closed.