Winklevoss Twins Will Ask for Writ from Supreme Court

17 May

The Winklevoss twins became a household name after they were portrayed as the original force behind the popular social media website, Facebook in the movie, The Social Network.

Now the Winklevoss twins have decided to take their beef with Facebook to the Supreme Court to undo a $65 million settlement with the company.

Just hours after a federal appeals court declined to review a legal challenge from Cameron and Tyler Winklevoss, the twin brothers said they would ask the U.S. Supreme Court to weigh in.

This is the final legal avenue open to the Winklevosses, who allege that Facebook founder Mark Zuckerberg stole their idea for the social networking site. But the Supreme Court would not be required to hear the case. Only after 4 of the 9 justices approve of a writ of certiorari would the Winklevosses have their final day in court.

The Winkevosses’ attorney Jerome Falk said in a written statement that he plans to pursue two legal issues: the court’s decision that a party who is defrauded into entering a settlement agreement cannot challenge the contract for fraud, and the court’s decision that statements made in a confidential mediation cannot be used as proof that a party committed securities fraud.

“Settlements should be based on honest dealing, and courts have wisely refused to enforce a settlement obtained by fraudulent means,” Falk said.

Facebook could not immediately be reached for comment. In a written statement after the 9th U.S. Circuit Court of Appeals decision, the company said: “We’re pleased with the court’s decision.”

The Winklevosses failed to persuade the 9th Circuit to have the full 11-judge panel revisit last month’s ruling that upheld the $65-million settlement the Winklevosses reached with Facebook in 2008.

Many legal experts had said the appeal was a long shot since they had already agreed to forever drop any and all claims relating to the ownership of Facebook in exchange for millions of dollars.

A three-judge panel decided in April that the Winklevoss twins could not unwind the $65-million settlement agreement that gave them $20 million in cash and stock now valued at about $200 million. The Winklevosses say they were misled about the value of the stock.

The Winklevosses, who were students at Harvard with Zuckerberg, are planning another legal challenge in Boston, where they plan to ask the court to investigate their claims that Facebook and its lawyers concealed instant messages from them during the litigation.

The LA Times and TMZ  contributed to this article.

One Response to “Winklevoss Twins Will Ask for Writ from Supreme Court”

  1. wanda May 18, 2011 at 9:56 am #

    Filthy rich is dirty money

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: