Finally Facebook Register Victory in Ownership Lawsuits

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Finally Facebook registered victory over a lawsuits filed in US court towards ownership dispute with New York resident Paul Cegli, preventing any assets transfer, when a New York federal court judge struck down a restraining order preventing the company from transferring its assets.

Just couple of days before I have mentioned in one of my posts that a New York resident Paul Cegli claims over 84% of ownership over Facebook and filed a lawsuite against Facebook and Mark Zuckerber – CEO and Co-Founder of Facebook. Ceglia claims to have signed a contract with Zuckerberg in 2003 for a web site that resembles what is now Facebook and claims to be owed 84% of the company. The case itself is odd for a number of other reasons, like the timeline not fitting into the state’s statute of limitations (why wasn’t the issue brought up earlier?), and the plaintiff being previously charged with grand larceny for not providing customers with $200,000-worth of pre-ordered wood pellets in 2009.

The restraining order restricted Facebook from moving its assets. Facebook had the case moved to federal court and, although it continues, U.S. District Court Judge Richard Arcara in Buffalo said that the order was “impermissibly vague and overbroad.”

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