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HomeNetworkWinklevoss twins lose Facebook appeal

Winklevoss twins lose Facebook appeal

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A panel of federal judges on Monday ruled that Tyler and Cameron Winklevoss can’t back out of the settlement deal they made in a lawsuit charging that Mark Zuckerberg stole their idea for Facebook.

The twins inked a settlement two years ago that got them $20 million in cash and $45 million worth of stock valued at $36 per share.

The value of that yet-to-be-issued stock has skyrocketed along with Facebook’s estimated market value, which was placed at $50 billion early this year, the judges noted in their ruling.

“With the help of a team of lawyers and a financial advisor, they made a deal that appears quite favorable in light of recent market activity,” the judges said.

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