Twins drop Facebook lawsuit

23 Jun 2011

Twin brothers who are the former Harvard University classmates of Facebook CEO Mark Zuckerberg have ended their legal battle against the social networking giant.

The twins have claimed Zuckerberg stole their idea and created Facebook while they were undergraduates at Harvard University.

In a one-paragraph court filing, Cameron and Tyler Winklevoss said they would accept a settlement that was worth US$65m when agreed upon in 2008. They also said that – contrary to previous reports – they would not take their case to the US Supreme Court.

The brothers had sought rescind the settlement of US$20m cash and US$45m in stock.

In a ruling against the twins, the 9th US Circuit Court of Appeals said they had been represented by Silicon Valley lawyers and their business professor father.

The twins’ stock is now worth more than US$100m.

Photo: Facebook CEO Mark Zuckerberg