Tuesday, May 17, 2011

Winklevoss Twins: You Call $65m Losing?

U.S. Supreme CourtImage via WikipediaFrustrated by the U.S. Circuit Court of Appeal for the Ninth Circuit's refusal to grant them an en banc rehearing challenging the appellate court's order to accept a cash and stock settlement of their lawsuit on which they signed off in 2008, Cameron and Tyler Winklevoss will look to the U.S. Supreme Court for a bigger piece of the Facebook pie.

According to reports today in The Los Angeles Times and the Mogulite blog, the brothers Winklevoss (translated from the Dutch: "pampered gastropods") are not about to settle for the $20 million plus $40 million in stock options that courts have told them to accept. The Winklevoss duo insist they were misled about the social media platform's stock value.

So for now, the battle continues between the Winklevii and Facebook founder Mark Zuckerberg, whom the twins claim filched their Facebook idea while the three were classmates at Harvard. After all, the twins are turning 30 this year and can't go on rowing forever, and apparently, $65 million doesn't go as far as it used to, with the price of gasoline and all.
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