Winklevoss Twins Launch Another Lawsuit Against Facebook

Tyler and Cameron Winklevoss, the twins that already launched one lawsuit against Facebook, claiming that Mark Zuckerberg stole their idea for a social network, are now suing Facebook and Mark Zuckerberg again.

Even though the first lawsuit ended with a 65-million-dollar settlement, the Winklevosses now claim that Zuckerberg lied to them about the value of Facebook and is guilty of securities fraud, demanding an unspecified amount of (extra) money.

Facebook has filed new legal papers in answer to the suit, claiming the Winklevosses are suffering from “settler’s remorse,” and that they had calculated the value of Facebook themselves, based on a truthful press release from a couple of months earlier. Facebook claims that Mark Zuckerberg wasn’t obligated to inform them of the true value of the company.

From Facebook’s new legal papers: “Their fraud claim is based on omission: they fault Facebook for not volunteering a more recent – and, they claim, lower – valuation of different Facebook stock. They insist that their sworn enemy had some special duty to open its books and volunteer any information that bears on the value of this closely held company.”

The story of the first lawsuit was widely popularized through David Fincher’s movie The Social Network. The Winklevoss twins originally hired Zuckerberg to create a college-based social network for them, and Zuckerberg agreed but eventually abandoned that project to build a rival service, which would end up being Facebook. The 65 million that the Winklevosses originally settled for is a hefty sum, but who knows, perhaps they end up getting even more from Facebook.


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