Zuckerberg's Facebook Safe

(Posted on 23/06/11)

Former Harvard classmates of Mark Zuckerberg, Cameron and Tyler Winklevoss, settled a long-brewing lawsuit with the Facebook founder. The agreement? The same one that a judge approved in 2008 and that equated to around $65 million (USD). The two brothers, twins, had decided after the settlement that it was not enough and went back to court in an effort to undo the $20 million cash and $4 million in stock settlement as well as other undisclosed details.

They took their case all the way to the 9th U.S. Circuit Court of Appeals, and were prepared to bring to the next level - the Supreme Court. Today's announcement, however, essentially removes that possibility. The 9th Circuit had ruled against the twins and said their "squadron" of Silicon Valley lawyers, along with their own father, had more than fairly represented their interests. The case has been watched closely by solicitors in the UK and all over the world. The case also inspired a movie, The Social Network, which was up for several awards and also resulted in Zuckerberg being named Time Magazine's Person of the Year in 2010. The lawsuit did little to tarnish his reputation or incredible mecca he's built with Facebook. In fact; Facebook continues to move forward while offering its users the latest in technological advances. Up next, the company is primed to release a music app that will allow users to share music with friends and family.

In the meantime, the Winklevoss Twins aren't crying too much in their sorrow - considering their stock is now valued at more than $100 million (USD). Facebook currently has more than 500 million users - and that number climbs at amazing speed.

The lawsuit and court case had been dubbed "The case that wouldn't die". The twins quickly earned a reputation as being power hungry and attempting to take credit for something that was not theirs to claim. No word from Zuckerberg's camp.