After seven years of lawsuits! … After reaching a $65 million dollar settlement with Facebook in 2008 which they then tried to rescind on the argument that Facebook gave them misleading information! … After vowing that they would challenge an April 2011 ruling by the 9th Circuit Court and take their case all the way to the Supreme Court, (!) the Winklevosses have just given up on their fight against Facebook.
In a statement made to the US Court of Appeals for the Ninth Circuit in San Francisco today, the twins and friend Divya Narendra said that they have dropped the legal appeal of the most recent court ruling (in favor of Facebook) after “careful consideration.” Meaning they will take the original settlement, which is in stock now worth considerably more than $65 million.
The Harvard students filed their original suit against the social network in 2004 accusing Facebook CEO and fellow student Mark Zuckerberg of ripping off their CONNECTU idea, and subsequently creating Facebook.
The best part about the entire fight, which has seen the twins through their young adulthood? Facebook’s reaction to the news, “We’ve considered this case closed for a long time, and we’re pleased to see the other party now agrees.”
Update: Actually, it not over, exactly. According to the Los Angeles Times the brothers have filed a request on Thursday to have a Boston federal court investigate their claims that Facebook hide evidence during the original case. Winklevosses, we just can’t quit you.
Image: Nick McGlynn
Facebook is the world’s largest social network, with over 1 billion monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin to help build Facebook, and within four months, Facebook added 30 more college networks. The original...