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Winklevoss twins file another Facebook appeal

Won't take 'no' for an answer
Wed Apr 20 2011, 12:08

THE WINKLEVOSS TWINS have launched yet another appeal in their efforts to wrangle more money out of Mark Zuckerberg for Facebook, a website they claim to have invented.

The brothers lost an appeal last week in their claim that they had been deceived about the value of Facebook shares in a $20 million (£12.2 million) settlement with Facebook's founder and CEO, Mark Zuckerberg.

The court ruled that the duo, who were surrounded by lawyers, weren't naive enough to have been duped by Zuckerberg. He said that the litigation had to end, but clearly Cameron and Tyler Winkelvoss weren't listening.

The twins filed another appeal, asking to be heard by a full 11-judge panel, a big increase on the three judges that heard last week's appeal.

Lawyers for the brothers claim that Facebook committed "garden-variety securities fraud", according to the Wall Street Journal. They want the settlement amount to be increased to $65 million (£40 million). µ

 

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