An appeals court has just put the kibosh on Tyler and Cameron Winklevoss’s push to get more money out of Mark Zuckerberg.
The twins had already signed into a binding contract in 2008 giving them $20 million in cash and a partial ownership of Facebook. That would make the settlement now worth about $160 million.
But as the social networking site grew, they wanted more, and filed a lawsuit saying Zuckerberg wasn’t 100% forthcoming with information when the agreement was signed. They were hoping to have the $100+ million deal thrown out in exchange for a new settlement that would be worth billions.
Their case had already been rejected, but they filed an appeal. That appeal has now also been turned down.
“For whatever reason, they now want to back out. Like the district court, we see no basis for allowing them to do so. At some point, litigation must come to an end. That point has now been reached,” chief justice Alex Kozinksi summarily said.
The Winklevoss twins, of course, became household names when last year’s hit film The Social Network put all of Facebook’s behind-the-scenes drama front and center. Although they came up with the idea of a connected online portal for Harvard students, it is Zuckerberg who turned it into a global phenomenon.
The twins will now have to live with the $160 million they get for doing nothing more than having an idea.
That is, unless the Supreme Court decides to hear the case. The Winklevosses haven’t said if they plan to pursue that option, but it would most likely be a fruitless endeavor.
