Appeals court puts Winklevoss twins’ litigation with Facebook on hold
Facebook’s bid to end litigation with the Winklevoss twins was put on hold this week when the U.S. 9th Circuit Court of Appeals suspended all litigation while the brothers file a request with the U.S. Supreme Court.
Tyler and Cameron Winklevoss, who allege that Facebook founder Mark Zuckerberg stole their idea for the social networking site, are hoping to reverse the federal appeals court decision to uphold a $65-million cash-and-stock settlement they reached with Facebook in 2008.
They say Facebook duped them because it did not give them an accurate valuation of the shares they would receive. The value of the settlement has soared along with that of Facebook.
The Winklevosses are fighting Facebook in federal courts in San Francisco and Boston. The Massachusetts court put its case on hold while the California court ruled.
The Winklevosses recently filed papers in Boston alleging that Facebook and Zuckerberg failed to produce crucial documents during the discovery portion of the case. Facebook has said that claim has no merit.
