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$65m gamble against fb scammer Mark Zuckerberg.

Discussion in 'BlackHat Lounge' started by oxonbeef, Jan 11, 2011.

  1. oxonbeef

    oxonbeef BANNED BANNED

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    Three Harvard graduates are to gamble a $65m settlement they made with Facebook over who came up with the idea for the site, in an effort to get more money.
    Tyler and Cameron Winklevoss and Divya Narendra argue that at the time of the settlement Facebook misrepresented its stock price, robbing them of millions.
    The three accuse Mark Zuckerberg of stealing their idea for what has become the world's biggest social network.
    Mr Zuckerberg, who also attended Harvard, has always denied the claims.
    But in 2008, after years of legal wrangling, Facebook agreed a multi-million dollar deal to put an end to the "rancorous litigation".


    http://www.bbc.co.uk/news/technology-12155352
     
  2. Clutterbuck

    Clutterbuck Regular Member

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    Do they have a leg to stand on?

    If they accepted the $65m, as a settlement thats it, isnt it?
    I no legally expert, far from it. But it would be very strange if they have accepted this back then, and then at a later date, because of where the site is now they get more.
     
  3. wkrappen91

    wkrappen91 Power Member

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    Love how they look just like in the movie:D:D
     
  4. ``Yousef

    ``Yousef Power Member

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    That's not the point, their settlement was stock I believe, and Facebook apparently deliberately misrepresented the value of that stock, so that $65m was worth like $45m or something.
     
  5. oxonbeef

    oxonbeef BANNED BANNED

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    Well if they can prove that facebook withheld the true share valuation I reckon
    it's a pretty good bet. And I don't think a judge will be too impressed.
    I've always viewed an out of court settlement as an admission of guilt anyway.
     
  6. comparco

    comparco Regular Member

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    Surely a court or plaintiff would do their own due diligence and not relay on the defendants figures?
    I had an idea for a clean search engine in 1995 should I sue g00gle? whos' with me? lol
     
  7. momopo

    momopo Junior Member

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    Im in. Sue them for 10% stock share... that should be enough to live off of for the next couple thousand years. :)
     
  8. ahiddenman

    ahiddenman Elite Member

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    Lol , There is always a hidden past with a successful person.
     
  9. Ardit

    Ardit Junior Member

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  10. SittinLow

    SittinLow Registered Member

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    I'm sure they are just hoping facebook will settle again, to avoid court.
     
  11. LukaB

    LukaB Jr. VIP Jr. VIP Premium Member

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    Wasn't he sued by these 3 already (as in the movie) ???
     
  12. bigwali

    bigwali Junior Member

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    Their view is they accepted the 65M under false pretenses as Mr. Zuckerberg valued the shares given to them as $36 per share while the Board of Directors valued it at only $9. If the share price was $9, they would have received 4 times as many shares than they actually got. That's the way I read it. In any event, it is more money for the lawyers and most likely a settlement will be reached before trial.
     
    Last edited: Jan 11, 2011