First Fall Sighting of Winklevi

Image via CrunchBase

Faithful readers of this blog know that the Winklevoss twins, Cameron and Tyler, of The Social Network cinematic fame, regularly appear in "TUOL" (see posts on 7/26/11, 6/24/11 et al.).  Well, they're back, with Harvard pal Divya Narendra, investing $1 million in SumZero, a social network for professional investors, co-founded by Narendra and Aalap Mahadevia in 2008, according to an article in The Wall St. Journal this week.

The Winklevi duo, who, aided by Narendra, engaged in a protracted legal battle with Mark Zuckerberg over ownership of Facebook that netted the twins a reported $65 million settlement, have turned their attention to Winklevoss Capital, an investment company fueled by their personal wealth, and SumZero is the inaugural beneficiary. SumZero's membership of 75,000 or so is geared toward private equity firms and hedge fund and mutual fund investors, though a small group of outsiders may subscribe by doling out $129 a month to receive a few investment ideas with the blessings of their authors. Members are required to submit investment ideas to maintain access to their fellow members' tips, according to the Journal article.

SumZero plans next month to relocate into office space in Manhattan owned by the Winklevoss boys. You can't keep a good man down--or the Winklevoss's either, apparently.

UPDATE: Bye, Bye Winklevi

Image by Getty Images via @daylifeU.S. District Court for the District of Massachusetts Judge Douglas P. Woodlock last week dismissed the case of ConnectU v. Facebook (Case No. 07-10593), perhaps ending at last the 100 years' war involving Harvard alumni Mark Zuckerberg and Cameron Winklevoss and Tyler Winklevoss concerning the origins of Facebook.

The Winklevoss twins filed a Motion  July 1 for discovery to gain a peek at sealed and confidential files to determine whether Zuckerberg and his counsel "intentionally or inadvertently suppressed evidence," the absence of which, the Olympic rowing twins claimed, deceived them into accepting a settlement of their lawsuit in 2008. Judge Woodlock said the files at issue were irrelevant because the case at issue already was closed when the parties resolved their dispute in 2008. (See "TUOL" posts 6/24/11, 6/23/11, 5/17/11.)

As reported by Bostonbizjournals.com, the Winklevoss brothers each received $20 million and Facebook stock valued at $65 million in 2008 in return for dismissing their claim that Zuckerberg stole the Facebook social media monster idea from them. The July 1 Motion sought access to 2004 instant messages purportedly sent by Zuckerberg while working with the twins on a related social media project.

Bad news for those craving a sequel to The Social Network.

UPDATE: A Day Without Winklevoss...

Image via CrunchBaseA day after Tyler & Cameron Winklevoss, the Olympian twin rowers (a description "TUOL" hoped never to have to write again after its post on 6/23/11) said they would not appeal the decision of the U.S. Circuit Court of Appeals for the Ninth Circuit to the U.S. Supreme Court that refused to overturn their settlement agreement with Facebook founder Mark Zuckerberg of a lawsuit regarding the social network's origins, their attorney has filed a status report with the U.S. District Court for the District of Massachusetts seeking permission to conduct discovery, according to reports by Reuters and Bloomberg News wire services.

The Winklevosses claim the discovery in the matter of ConnectU v. Facebook (Case No. 07-10593) is necessary to determine whether the defendant "intentionally or inadvertently suppressed evidence." The twins and Connect U founder and business partner Divya Narendra contend they were misled and deprived of important documents during settlement discussions of their lawsuit.

If Hollywood can continue to crank out X-Men movies, surely another Social Network sequel isn't too much to expect. Maybe the litigious twins are looking for their own spinoff.

UPDATE: Winklevoss Twins Save Face--Lose Facebook

Image via WikipediaAfter "careful consideration," Cameron and Tyler Winklevoss--America's favorite twin former Olympic rowers--and their business partner, Divya Narendra, founder of ConnectU, told the U.S. Circuit Court of Appeals for the Ninth Circuit Wednesday that they would not seek Supreme Court review of the appellate court's adverse ruling in May concerning their ownership dispute with Facebook founder Mark Zuckerberg over the social network giant.

According to The Wall St. Journal and Associated Press, the Winklevosses (Winklevi?) have decided to make do with the settlement on which they signed off in 2008 that netted each $20 million in cash and Facebook stock in return for abandoning their lawsuit against Zuckerberg. The Ninth Circuit rejected their challenge of the settlement that they claimed they were mislead into accepting. (See "TUOL" post 5/17/11.)

Hollywood chronicled the dispute among former Harvard classmates Zuckerberg and the Winklevoss twins regarding the development of Facebook in "The Social Network." Reportedly, the Facebook stock held by the Winklevosses today exceeds $100 million in value.

When the Ninth Circuit refused to invalidate the settlement in May, the Olympian twins spoke of petitioning the U.S. Supreme Court to review the decision, which sparked criticism in the media that they were out of their sculls, so to speak.