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Winklevoss Twins

Fold in Facebook Lawsuit

6/22/2011 5:28 PM PDT BY TMZ STAFF

The Winklevoss twins are waiving the white flag in their epic legal war with Facebook's Mark Zuckerberg.

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The Winklevi have been fighting Zuckerberg for 7 years, claiming he jacked their idea for a social network.

The Twins claim Zuckerberg actually screwed them twice -- the second time by hiding documents that could have scored them more than the $65 mil they settled for back in 2008.

The W.T.'s were trying to get a judge to invalidate the settlement so they could renew their fight for more money, but after a series of legal setbacks, they have now officially dropped the case.

According to the final court filing today, the Cameron and Tyler Winklevoss agreed to accept  the settlement of $65 million in stock.

Now here's the good news for The Twins.  The stock has now swelled in value to $100 million.

Invest wisely boys, and stay away from the really smart kids at Harvard.

56 COMMENTS

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46.

BarrysConspiracyWorld    

I have no sympathy for these pricks. What did they do? They had a vague idea about a website for Harvard. That is a far cry from facebook and actually doing it! It's the easiest $65M ever made. Way to go spoiled brat putzos!

1168 days ago
47.

SURFCOWBOY    

if you had the idea and someone took it, it can be obviously frustrating.... But who knows what the real details are. The movie was just part of it. I dont care who wins, who doesn't but I do believe that in life, good ideas must be kept a secret or else aholes will run with it.

1168 days ago
48.

simplymeinmo    

Crying over 65 million which is worth 100 million today?! Oh cry me a handful! Wake up to reality ya little spoiled ass rich kids! REAL people can't make their f*$king house payment or put food on the table and your gonna whine?! Somebody REALLY needs a reality check......SMH!

1168 days ago
49.

Wiley    

So, it was their idea to steal the myspace concept? Facebook is useless crap, as is twitter. That message thing was done 25 years ago. The next "new" thing will come along any moment and Facebook will be gone.

1168 days ago
50.

ccraptor    

These two look like they belong in the Alpha Beta fraternity from "Revenge of the Nerds."

1168 days ago
51.

OMG    

Rich = Smart ...When You can pay for the Best I guess So... I would love to see real numbers from Harvard on who is smart or who just have deep pockets...............As you can tell from my comment .......I need a tutor...........

1168 days ago
52.

simple wedding dresses    

Over the centuries, brides continued to dress wedding dressin a manner befitting their social status—always in the height of fashion, with the richest, boldest materials money could buy.Today, there are wedding dresseswedding dress sale available in all price ranges, and Western traditions have loosened up to include a rainbow of colors and variety of lengths, which are now considered acceptable. Women may purchase ready-made gowns, wear a family heirloom, or they may choose to have a dressmakershort wedding dresses create one for her. In addition, today many bridal salons have samples of wedding gowns in their stores where the bride selects a certain style and orders one to be made to fit.

1168 days ago
53.

phyllismc    

About time they gave up. If the twins had done the work themselves, this would never have happened. They had the idea, but not the know-how, so they gave it to someone else to do ALL the work... Did they get anything in writing about compensation, partnership or who would own the work? Did they really think that after completing the project, the person who actually put in all the hours of coding and creating and fixing bugs would just hand it all over?

Most people have no idea what it takes to code something: sitting hours looking at streams of numbers, letters, and symbols, how often people (especially friends and acquaintances) take advantage of you thinking it's easy and you can just whip something up and give it to them?

Yeah, It was a sh**ty thing for Zuckerburg to do; he should have gotten something in writing to compensate him for his time and effort.
But an idea cannot be copyrighted or patented, so stealing an idea is perfectly legal... the only thing that matters is being the first one to get it to market. That's the basis of competition.

The Winklevoss's should just let go of the sour grapes now, and move on. They learned a valuable business lesson, and it doesn't appear that they're exactly out on the streets begging for quarters.

1167 days ago
54.

DJ Blur    

uh they stole the idea from Myspace anyway and just made it a little more interactive...

1167 days ago
55.

John the Lawyer    

This is kind of true and kind of not true. The twins dropped whether they did settle. They'll take the settlement, but they just filed a new action contesting that Facebook intentionally hid the true value from them.


Not taking no for an answer, they decided to take their case to the U.S. Supreme Court. Now that too has come to a close, and it seemed that the Facebook legal drama had finally come to a close. But right after the brothers said they were dropping their second appeal, they went ahead and filed anotherlawsuit. In a motion filed on Thursday in U.S. District Court for the District of Massachusetts, the Winklevoss twins and their business partner Divya Narendra asked the court to determine whether Facebook "intentionally or inadvertently suppressed evidence" during the 2008 settlement proceedings.
As it stands now, claims that Facebook was misleading during the 2008 settlement hearing is backed by instant messages from Zuckerberg himself which reveals his relationship with the brothers during the time he launched Facebook from his Harvard dorm room in 2004. The Massachusetts claim states that Facebook should have disclosed those instant messages when they compiled the original settlement.

source: http://www.tomsguide.com/us/Facebook-ConnectU-Zuckerberg-Winklevoss-Supreme-Court,news-11620.html

1167 days ago
56.

katepotate    

Classic opportunists. This is all these two will ever amount to. Its quite sad really.

1165 days ago
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