In 2008 the Winklevoss brothers were awarded a $65 million dollar payout from the Facebook company. But this last December they filed a new lawsuit stating that they were not satisfied with the cash amount. They asked a judge to throw out the settlement because Facebook lawyers and executives misrepresented the value of the company. The suit said that Facebook was worth four times the amount as listed in the original lawsuit.
I don’t care that Facebook is worth $50 billion dollars. Getting a settlement of $65 million dollars is quite enough, thank you! And so say three judges!
This week a three-judge panel of a federal appeals court ruled that the brothers cannot back out of a settlement they signed with the company. And BTW, I read another report that their original settlement was more like $170 million dollars. Geez! Get real, boys.