In last two years we have seen rounds of claims, arguments, speculations, actions and dramas of Winklevoss brothers who initially sued Facebook accusing Mark Zuckerberg stealing his idea to launch Facebook, then settled down with $65 million in 2008 – now worth more than $100 million – as compensation and again turning back to court with greedy attitude claiming higher compensation as Facebook valuation had gone much higher. But Finally, it seems that all such drama has come to an end as twins has decided not to pursue further to the court in any such related matter.
The twin’s attorney has submitted a filing stating that the Winklevoss have decided not to ask the U.S. Supreme Court to void a series of previous legal ruling upholding original settlement valued at $65 million – but now worth an additional $35 million because Facebook’s share value has been increased by multi folds.
However, Facebook has appreciated the twin’s move. “We’ve considered this case closed for a long time, and we’re pleased to see the other party now agrees,” said Andrew Noyes, manager of public policy communications at Facebook, via email.
According to Reuters, the twins’ legal filing with the federal appeals court in San Francisco didn’t denote why the Winklevoss’ have finally decided not to ask the U.S. Supreme Court to rule on the case. This filling clears the way for Facebook to seek the dismissal of a related lawsuit filed in the Boston federal court.
Zuckerberg established Facebook in 2004 in his Harvard University dormitory room. In few years, Facebook became the most popular social networking site beating Titan of that time MySpace. Currently, Facebook has been estimated more worth $85 billion in private market. Company has also announced its plan for going for an IPO in early 2012 and projections are being made that Facebook would be worth $100 billion or more when it will got for its first IPO.