Belfast Telegraph

Friday 19 September 2014

Twins drop 'Social Network' lawsuit

Cameron and Tyler Winklevoss are ending their legal battle over Facebook

The Harvard University classmates of Facebook founder Mark Zuckerberg are ending the legal battle made famous by Hollywood movie The Social Network.

In a one-paragraph court filing, Cameron and Tyler Winklevoss said they would accept a settlement that was worth 65 million dollars (£42 million) when agreed upon in 2008.

The twins had sought to undo the settlement of 20 million dollars (£12.5 million) cash and 45 million dollars (£28 million) in stock.

The 9th US Circuit Court of Appeals ruled against the twins, saying they had been represented by a squadron of Silicon Valley lawyers and their father, a noted business professor.

The twins said they would forgo a trip to the US Supreme Court.

Their stock is now worth more than 100 million dollars (£62 million).

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