The S&F law blog


The Winklevoss Twins seek to reopen $65 million Facebook settlement, Baidu and Facebook work together to form new social network
April 13, 2011, 10:06 am
Filed under: Uncategorized

The Winklevoss Twins are seeking to reopen their $65 million settlement on the grounds of misinformation as to the actual value of Facebook at the time the settlement was drafted.

A San Francisco appeals judge struck down the request, noting that “they [the Twins] made a deal that appears quite favorable in light of recent market activity.”

Despite aggressive legal maneuvering on the part of the Winklevoss Twins, Mark Zuckerburg and Facebook have always maintained that they did not steal the Winklevoss’ ideas.

Lawyers to the Winklevoss twins plan to file an appeal.

Source: Lawdit

Facebook is laying plans for renewing its presence in China and access their massive market of 400+ million users. Sohu.com reported yesterday that Facebook Inc. is working in conjunction with Baidu Inc. to form a social network in China.

Andrew McLaughlin, former director of global public policy at Google Inc., recently spoke out criticizing the possible arrangement, citing China’s history of censorship and favoring of local tech companies. No formal agreement has been signed.

Source: Bloomberg

Advertisements

Leave a Comment so far
Leave a comment



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: