Despite their claims that Facebook did not provide an accurate valuation, a judge ruled that Cameron and Tyler Winklevoss must accept their $65 million settlement from the social networking behemoth and move on. SUCKS for them.
A U.S. appeals court ruled that the settlement stands.
The Winklevoss twins (seen here with the actor who portrayed them in The Social Network, Armie Hammer) say Facebook CEO Mark Zuckerberg stole their idea.
Zuckerberg and Facebook settled with the twins in ’08. The Winklevii have since tried to secure more $$ by claiming that Facebook is guilty of securities fraud.
Chief Judge Alex Kozinski wrote in Monday’s ruling that the twins already settled the dispute and signed a release of all claims against Facebook. End of story.
With both the district court and appeals court in agreement, it seems this may be the end of the Winklevosses’ claim to any additional shares of Facebook.
They will therefore have to cope with a mere $65 million to go with their genetically freakish good looks and Harvard degrees. Talk about getting shafted.