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Thursday, January 6, 2011

Facebook War: Zuckerberg vs. the Winklevoss Twins...High School Drama at its Best!!

Okay, most of you probably know the back story of this...especially if you've already seen "The Social Network" (amazing performance by Jesse Eisenberg in Zuckerberg's role by the way).  To sum up, there is a big discrepancy between what the Facebook co-founder says about who had come up with the original idea of the site and what his former classmates at Harvard can recall.  Due to this issue, Facebook had to pay the Winklevoss twins a settlement amount of $65 Million in 2004.  It should have been over and done with at that point. 

Fast forward to 2010/2011, and now the twins (after firing and suing their lawyers for malpratice) are looking to reverse that settlement and re-open the litigation against the company.  If that happens either one of two things will result: 1) Win and they stand to receive a settlement amount of close to $500 Million 2) Lose and make zilch (including dumping all of the original $65 Million...aaaahhhhh!).  They say it's all about the principle of it all...yeah right, they want some of that Facebook billions!! 

This could turn out to be one of the biggest "That is so high school" battles of the century...more to come.


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