Winklevosses appeal Facebook settlement ruling

SAN FRANCISCO - A Facebook lawsuit at the heart of the Hollywood blockbuster "The Social Network" lives on.

Two former Harvard University classmates of company founder Mark Zuckerberg asked a federal appeals court Monday to reconsider its order that they accept a settlement over the website's creation.

Tyler and Cameron Winklevoss initially claimed Zuckerberg stole their idea for Facebook but agreed to drop their lawsuit in 2008 in exchange for $20 million in cash plus stock in the company.

The twins say they later discovered the stock was worth less than claimed at the time, and they sought to have the deal voided.

A three-judge panel of the 9th U.S. Circuit Court of Appeals ruled against the Winklevosses last week. Their lawyers have asked for a special 11-judge panel to consider their appeal.

The federal court said last week that Winklevosses were savvy enough to understand what they were agreeing to when they signed the agreement in 2008. The deal called for a $20 million cash payment and a partial ownership of Facebook. A third classmate, Divya Narendra, was part of the settlement with the twins but did not pursue the second lawsuit seeking to undo the agreement.

The settlement is now worth more than $160 million because of Facebook's increased valuation.

"At some point, litigation must come to an end," chief justice Alex Kozinksi wrote for the unanimous three-judge panel "That point has now been reached."

[uncle_jed]

Nothing but blue blooded whiners. Why don't you just get job at G. Sachs an steal money like the rest of your ilk!

[josephdgreen]

Greedy bums!

[Bojax39]

Let their greedy butts swing in the breeze... they've been well overpaid for doing absolutely nothing already and now they want to sweeten the deal? They deserve a bit of jail for wasting the court's time.

[ariz_1944]

"The federal court said last week that Winklevosses were savvy enough to understand what they were agreeing to when they signed the agreement in 2008. The deal called for a $20 million cash payment and a partial ownership of Facebook." And "The settlement is now worth more than $160 million because of Facebook's increased valuation."
Can't believe these guys, put NOTHING into Facebook, And NOW 160 Million is NOT enough?? Throw the bums out of court, charge them ALL court and lawyer fees!!