Winklevoss Twin Settles with Zuckerberg

 

Its a truce! Facebook Founder and CEO Mark Zuckerberg can now sleep more soundly with two less enemies in his list. The Winklevoss brothers, made famous in the movie The Social Network , have finally agreed to end their legal battle.

In the court document presented last Wednesday, the “Winklevi” stated that they have agreed to settle with the $65 million payment agreed upon back in 2008.

The lawsuit, filed way back in 2004, claimed that Zuckerberg’s Facebook is copied from the twin’s idea for their own social site called ConnectU (formerly HarvardConnection). Furthermore, Zuckerberg allegedly used the supposedly site’s source code for his own site.

An initial settlement was reached in February 2008 at $65million. In My 2010, however, the brothers sought to undo the settlement, citing misrepresentation of stock values from Facebook’s part. According to Winklevoss’s camp the stock value was $11million rather than the reported $45 million at the time of settlement which means the settlement pay would amount to $31million rather than the agreed upon $65million.

Aside from being entrepreneurs, the Winklevi are also avid rowers. Tyler and Cameron Winklevoss were members of the United States Olympic Team at the 2008 Olympic Games in Beijing, China. They started the sports at the age of 15.

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