BREAKING NEWS

Court: Winklevoss twins must accept Facebook deal

By REUTERS

APRIL 12, 2011 16:08

SAN FRANCISCO (Reuters) - Mark Zuckerberg won a legal battle against former Harvard classmates who accuse him of stealing their idea for Facebook, but the feud made famous on the silver screen is not over yet.

Cameron and Tyler Winklevoss must accept a cash and stock settlement with Facebook that had been valued at $65 million, a US appeals court ruled on Monday. Meanwhile, a New York man filed an amended lawsuit against Zuckerberg on Monday, citing a 2003 email in which Zuckerberg discusses an urgent need to launch his site before "a couple of upperclassmen" could launch theirs, an apparent reference to the Winklevoss twins.

The Winklevoss brothers argued their settlement with Facebook was unfair because the company hid information from them during talks. But the twins were sophisticated negotiators aided by a team of lawyers, 9th US Circuit Court of Appeals Chief Judge Alex Kozinski wrote for a unanimous three-judge panel.

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