Winklevoss twins call off the dogs

Jamie Hinks
June 23, 2011
4 Comments

Winklevoss twinsThe longest running of all the Facebook lawsuits looks to have finally come to an end as the Winklevoss twins have called off the dogs on owner Mark Zuckerberg. The twins were appealing against a ruling that had given them around $65m that was eventually upheld. They were planning a further appeal against this but thankfully the farce has ended.

According to various reports, the Olympic rowers that were the subject of The Social Network, said that after “careful consideration, they decided not to seek Supreme Court review”. Facebook meanwhile released a statement that read, “We’ve considered this case closed for a long time, and we’re pleased to see the other party now agrees”.

They had originally agreed to the cash-and-stock accord for the aforementioned amount. The Winklevosses then wanted to undo it as Facebook had apparently hidden information from them aka they wanted some more of that pie. Unfortunately for them the only one they’ll now be eating is of the humble variety. According to Reuters, the Winklevosses lawyer Jerome Falk didn’t return requests for comment.

Zuckerberg can now forge ahead with what might end up being an IPO worth more than $100billion. That figure could easily decrease though. There have been reports that the site is losing users in an increasingly large number than usual and Facebook even came out and denied that there was any crisis. It does seem right now with Facebook that when one thing has gone, there’s another lurking around the corner. The largest of these could be their decision to go public, so watch this space.

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Tags: Article, Facebook, Lawsuit, Winklevoss twins
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