- (Photo: Reuters / Stephen Lam)
After Cameron and Tyler Winklevoss seemed to have finally put an end to their Facebook settlement saga, the twins are now taking the fight to a federal court in Boston.
The news flew across the Internet with various media outlets reporting how the Winklevosses had finally dropped the case on Wednesday against Mark Zuckerberg, CEO of Facebook, but it is now clear that the legal battle isn’t over. They filed another suit Thursday in U.S. District Court for the District of Massachusetts.
They claim that Facebook intentionally suppressed evidence during settlement proceedings in 2008.
The twins along with business partner Divya Narendra, also from Harvard University, together established a company called ConnectU Inc, and have been in a legal battle against Facebook for seven years over whether its CEO, Zuckerberg, stole the idea of what is today's most famous social networking website.
On Wednesday, in filings to a federal appeals court, they stated that "after careful consideration" they would not proceed for a Supreme Court review. Last April, the same appeals court in San Francisco ruled that the ConnectU trio had to live with the original settlement that gave them $20 million in cash and $45 million in Facebook stock.
In 2008, the ConnectU partners initially accepted the settlement but later on retracted their agreement, stating that Facebook had concealed relevant information. Hence, they deserved more money.
Facebook today may be valued at more than $100 billion in an IPO, according to CNBC.