Before The Social Network premiered, barely anyone had ever heard of the Winklevoss twins let alone the lawsuit. But before you knew it, the whole world seemed to know the personal details that led up to a major lawsuit between the Winklevii and Facebook. Today though, it has become a thing of the past because Cameron and Tyler Winklevoss have dropped their suit against Facebook and Mark Zuckerberg and will not dispute their $65 million claim before the Supreme Court. Good move.
So here’s the back story. The Winklevoss twins, 29, went after Mark Zuckerberg during the early days of Facebook claiming he stole their idea. Maybe he did, maybe he didn’t but either way, Facebook paid the Winklevoss twins something to the tune of $65 million–$20 million cash and $45 million in private stocks.
You’d think that would have settled things, but no! The Winklevoss twins decided to take their lawsuit to the Supreme Court because they claimed Facebook was inaccurately evaluated leaving them out tens of millions of dollars. But in April, the 9th U.S. Circuit Court of Appeals agreed with Facebook and Mark Zuckerberg by upholding the 2008 ruling.
‘We’ve considered this case closed for a long time, and we’re pleased to see the other party now agrees,’ a Facebook spokesman said.
FYI in 2008, Facebook was valued at $15 billion and today, the company is worth $70 billion. The Winklevoss twins’ stock is up over $100 million. Isn’t that enough??