Washington – The Winklevoss twins, who have been embroiled in a legal fight with Mark Zuckerberg over the founding of Facebook while they were undergrads together at Harvard, now intend to take their request for a larger settlement payment to the U.S. Supreme Court.
Yesterday, the Ninth Circuit Court of Appeals rejected an appeal from the twins for a rehearing of their case against Zuckerberg, whom they accused of stealing their idea for a campus social network.
The Winklevoss twins were the victors in their initial suit against Zuckerberg, winning a $65 million settlement in 2008 — but have since argued that they were misled about the value of Facebook shares at the time, and should be entitled to more.
“Settlements should be based on honest dealing, and courts have wisely refused to enforce a settlement obtained by fraudulent means,” said Winklevoss attorney Jerome B. Falk Jr.
“The court’s decision shut the courthouse door to a solid claim that Facebook obtained this settlement by committing securities fraud. Our petition to the Supreme Court will ask the high court to decide whether that door should be reopened.”