A U.S. appeals court has ruled that the $65 million settlement between Cameron and Tyler Winklevoss and Facebook will stand. The settlement came in 2008 about a suit that asserts that Facebook CEO Mark Zuckerberg stole their idea of a social network, and they’re trying to increase the settlement amount by claiming that Facebook is guilty of securities fraud.
The Winklevosses are not the first parties bested by a competitor who then seek to gain through litigation what they were unable to achieve in the marketplace, Chief Judge Alex Kozinski wrote in today’s ruling. And the courts might have obliged, had the Winklevosses not settled their dispute and signed a release of all claims against Facebook.
For whatever reason, they (the Winklevosses) now want to back out. Like the district court, we see no basis for allowing them to do so, Kozinski wrote. At some point, litigation must come to an end. That point has now been reached.
Source: Mashable
