Winklevoss Twins End Their Legal Battle With Facebook

Looks like “The Social Network” won’t get a sequel any time soon. Cameron and Tyler Winklevoss and former Harvard classmate Divya Narendra have decided to abandon plans for an appeal to the Supreme Court, after previous attempts to have a 2008 settlement reversed failed.

The judge who heard the case didn’t see it that way and suggested the Winklevosses take the original settlement – worth $65 million – they’d agreed to and move on. After exhaustive appeals poking around for more money (sorry, couldn’t help including that) and a more substantial settlement, they finally have.

The good news  for the twins is that the original settlement seems to be based on stock, and is valued at $200 million now. {Bits/New York Times}

The bad news? Appealing a ruling against an internet giant takes a lot of money, so it wouldn’t be surprising if legal fees ate into most of that.  The Winklevosses aren’t commenting, so no one knows how much of the settlement they can expect to keep.

Facebook, on the other hand, is commenting. In a statement they said “we’ve considered this case closed for a long time, and we’re pleased to see the other party now agrees.”

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