Winklevoss sailed

A stellar pair of very greedy twins: Cameron and Tyler Winklevoss , after 7 years of lawsuits against Mark Zuckerberg and The Facebook finally calmed down. Having received $ 65 million in 2008 in the form of shares, when the company’s valuation was about $ 32 billion. The brothers still didn’t seem to be enough and they tried to get 4 times the largest share in the Federal Court of Appeal, leaning on the argument that Facebook provided them false company valuation information. But apparently, it became obvious that the distance is over and it is time to dry the oars. After the announcement made in April 2011 that they would challenge the decision of the lower courts and go with their business right up to the Supreme Court, Winklevoss changed their mind .

In a statement that the twins and their friend Divya Narendra made at the 9th District Court in San Francisco yesterday, they mentioned that after a “close review” they decided not to escalate their appeal against Facebook. This means that they agree with the amount of conflict resolution, with the current assessment of the social network, at least twice as large as originally mentioned.
')
These heroes, now massively known thanks to Fincher's Social Network , began their career growth in 2004, filing the first lawsuit accusing Mark Zuckerberg of stealing the idea of ​​a CONNECTU startup, as well as causing damage in the form of slowing down the development of web service, and gradually Facebook creation.

The end of this story would not have been so beautiful if it were not for the rebel couple’s Facebook response: “We have considered this case closed for a long time and we are pleased to see that other parties now agree with us.”

Update : Looks like it hasn't sailed yet. The Los Angeles Times learned that after refusing a lawsuit in a San Francisco court, the Winklevoss twins went straight to the Boston Federal Court and now they will be judged by their facts: how much did Facebook really cost at the time of the transfer of the disputes.

Let me remind you, the brothers have long wanted (in fact, since 2008, how they got their sum) 4 times the larger share of the company’s shares, arguing that Facebook did not inform them about the audit by an independent auditor who evaluated the company’s shares at less than $ 9 when paying bonuses to new employees of the company (standard, in general, practice in Silicon Valley).

What's interesting - Winklevoss, despite the first impression, is judged for a reason. First, if they had not done this at all, then today they would not have capital estimated by the market at about $ 200 million (without deducting legal expenses not in shares, but in cash, of course).

And secondly, the two brothers have a father named Howard Winklevoss, a former professor at the Wharton School of Business , an assessment expert. Anyone who wants to break the settlement agreement with such a person is awaited by lengthy lawsuits and he was directly involved in all the courts against Mark Zuckerberg and Facebook.

A judge sentencing a past case in a San Francisco court wrote that: “With the help of a team of lawyers and a financial adviser, they made a deal that looks very attractive in light of recent market activity,” while pointing to a continuous increase in the value of securities. : “The share of which is owned by the twins will continue to grow, as investors are investing in Facebook with increasing market valuation.”

It remains only to envy their patience and wish good luck. Facebook shareholders are unlikely to want to see a tail behind them in the form of two greedy Winklevoss.

via Reuters , TechCrunch , Wired , update from LATimes and WSJ .