A federal appeals court ruled on Monday in favor of Facebook founder, Mark Zuckerberg and against his Harvard University collegemates, as the court declared that they cannot undo their agreement on the dispute for the creation of Facebook.
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| Controversial Wanklevoss twins |
According to the 9th U.S. Circuit Court of Appeals Tyler and Cameron Winklevoss had more than enough sense to be well aware of what they were agreeing to when they agreed to an arrangement in 2008. That deal stated for a cash fine of $20 million to Zuckerberg along with only little ownership of Facebook. This decision was welcomed by their third classmate, Divya Narendra, who decided not to chase in the second lawsuit for undoing the agreement and settled with this decision.
This Monday’s ruling enforces that previous settlement was reached after the duration of almost six years of litigation and negations. This court case gain a lot of popularity as this matter was filmed into a hit Oscar-nominated movie, titled "The Social Network." This settlement currently is almost above $160 million as the increments in Facebook's own value.
In the second lawsuit, the twins merely claim that they were somehow intentionally given the wrong impression about the Facebook's value at the time of agreement of the lawsuit. It claimed to ask for a more favorable agreement but as chief just Alex Kozinksi, wrote that "At some point, litigation must come to an end," and according to the jury now "That point has now been reached." Kozinski also went on claiming that the twins were actually a more "sophisticated parties" during the time agreement and following mediation meeting. He claimed that "They brought half-a-dozen lawyers to the mediation.”
Facebook officially gave a statement on Monday that it was actually ‘pleased by the ruling.’ According to the Lawyers of the Winklevoss twins, they are yet to how to move forward as their might still be the possibility of the twins asking from the Supreme Court to consider the case.
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