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Tuesday, 17 May 2011 - Winklevoss twins lose bid to reopen Facebook case |
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    Edition: U.S. Article Comments (0) Global Technology Summit Mobile generation upends tech AT&T plans consumer security service for 2012 AOL expands local news network in U.S. Samsung sees better LCD performance; no big investments Dodd-Frank hurt mobile payment system plans: AT&T Social network Viadeo shelves IPO plan AT&T: No room for both Clearwire and LightSquared Smartcard maker Gemalto bets on security Comment: Stay tuned for “Streak” Follow Reuters Facebook Twitter RSS YouTube Read WRAPUP 10-IMF chief denied bail, jailed in sex assault case 16 May 2011 Historic Vicksburg, Mississippi faces flood siege | 16 May 2011 UPDATE 1-RIM nears 2-year low after recalling some Playbooks 16 May 2011 HP to pull trigger early on results after CEO memo 12:13am EDT Cathay emergency landing triggers investigation 16 May 2011 Discussed 134 Son says bin Laden sea burial demeans family: report 96 Texas county official says ”stupid” feds sparked fire 76 Israel-Palestinian violence erupts on three borders Watched Fire ants form rafts to defy floods Tue, Apr 26 2011 Boot camp for rebels in Libya Sun, May 15 2011 Shuttle Endeavour blasts off Mon, May 16 2011 Winklevoss twins lose bid to reopen Facebook case Tweet Share this By Jonathan Stempel NEW YORK (Reuters) - The twin brothers who accused Facebook Inc and founder Mark Zuckerberg of stealing their idea for the social networking website lost their bid to have a U.S. court void a multi-million dollar settlement of... Email Print Related News Winklevoss twins lose bid to reopen Facebook case Mon, May 16 2011 Supreme Court narrows scope of whistleblower suits Mon, May 16 2011 U.S. court finds against Rambus, shares plunge Fri, May 13 2011 Rating agencies win dismissal of lawsuits Wed, May 11 2011 Federal judge blocks Utah immigration law Tue, May 10 2011 Analysis & Opinion Tech wrap: Yahoo battle with Alibaba heats up COLUMN: British bankers give up payment-protection appeal – the implications Related Topics Technology Home » Media » Facebook » Cameron Winklevoss (L) and twin brother Tyler Winklevoss are shown in this combination photo leaving the 9th Circuit Court of Appeals after a hearing on a settlement dispute with Facebook's Mark Zuckerberg in San Francisco, California January 11, 2011. Credit: Reuters/Stephen Lam By Jonathan Stempel NEW YORK | Mon May 16, 2011 8:58pm EDT NEW YORK (Reuters) - The twin brothers who accused Facebook Inc and founder Mark Zuckerberg of stealing their idea for the social networking website lost their bid to have a U.S. court void a multi-million dollar settlement of their claims. Cameron and Tyler Winklevoss failed to convince the 9th U.S. Circuit Court of Appeals in San Francisco to reconsider its April 11 ruling upholding the $65 million cash-and-stock settlement they reached with Facebook in 2008. The brothers had complained the settlement was fraudulent because Facebook hid information from them. They also said they should have received more Facebook stock. Without providing a reason, the court declined to have an 11-judge panel review the original ruling, which had been made by a three-judge panel. Jerome Falk, a lawyer for the brothers, said in a statement that he plans to appeal to the U.S. Supreme Court. Facebook spokesman Andrew Noyes said in an email that the company was pleased with the court's decision. The identical twin Winklevosses were classmates of Zuckerberg at Harvard University and are rowers who competed in the 2008 Beijing Olympics. Their feud with Zuckerberg was dramatized in the 2010 film "The Social Network." A revised accord could enable the Winklevosses to benefit from Facebook's rising market value, which private investors have said in recent weeks might top $70 billion. But in his April ruling, Chief Judge Alex Kozinski had called the brothers "sophisticated parties" who, with a team of lawyers and a financial adviser, had reached a "quite favorable" settlement. In a separate lawsuit, New York businessman Paul Ceglia is claiming he had a contract with Zuckerberg that entitles him to 84 percent of Facebook. The case is Facebook Inc et al v. ConnectU Inc et al, 9th U.S. Circuit Court of Appeals, No. 08-16745. (Reporting by Jonathan Stempel; editing by Andre Grenon and Carol Bishopric) Technology Home Media Facebook Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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