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Posted at 10:10 AM ET, 06/23/2011

Winklevoss twins will not appeal in Facebook case


Tyler and Cameron Winklevoss will not appeal their case to the Supreme Court. (KIMIHIRO HOSHINO - AFP/GETTY IMAGES)

Tyler and Cameron Winklevoss, along with business partner Divya Narenda, will not appeal a settlement to the Supreme Court, ending a years-long legal battle with Facebook, The Associated Press reported.

The men sued Facebook and its CEO and co-founder Mark Zuckerberg, claiming that Zuckerberg had taken the idea for the site from their product, ConnectU.

In April, an appeals court told them that they would have to stick to the terms of their original settlement with Facebook for $20 million in cash and $45 million in private stock. The Winklevosses took issue with this settlement after it was finalized, saying that Facebook had withheld important information about its true value. Their stock is now estimated to be worth more than $100 million.

While Facebook can finally close the books on this case, it is still facing a lawsuit from Paul Ceglia, who claims that Zuckerberg agreed to give him a share of Facebook in 2003.

Facebook said in court documents earlier this month that Ceglia’s evidence is forged. In response, Ceglia’s attorneys have said that Facebook’s claims are based on the findings of “those who have not examined the actual contract at issue.”

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By  |  10:10 AM ET, 06/23/2011

Tags:  Social networking

 
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