Wednesday, May 18, 2011

Winklevoss twins to go to supreme court against Facebook and Zuckerberg

Seems that problem is never gonna end with Facebook and its well known founder Mark Zuckerberg. The two twins Tyler and Cameron Winklevoss who are suing Mark since early days of Facebook are claiming again that Zuckerberg stole their idea of Facebook.

They have already  fought the case in Ninth Circuit court and they ended up with a settlement amount and the court finally told them to drop the case and never raise it again. But the twin brothers are not happy with this as now they are raising the same case in supreme court.

They have full intention to file the case again in the supreme court and they hope that supreme court will take their case differently and do justice as per their expectations. While asked why are you so confidence about wining the case this time, the twin brothers' lawyer said there had already been a conflict between Ninth Circuit court decision over a couple of issues. Here are the exact details of the issue as stated by the lawyer :

"The first is the Court's holding that a party who is defrauded into entering into a settlement agreement cannot challenge the contract on the ground of fraud. Federal and state courts have long held that a settlement founded on fraud must be set aside. The Court's decision conflicts with that body of precedent."

"The second issue is the Court's holding that a routine agreement to hold statements made in a mediation confidential bars proof that Facebook committed securities fraud in the mediation. Numerous federal precedents, and the text of the 1934 Securities Exchange Act, hold that an agreement to directly or indirectly waive rights under federal antifraud provisions of the securities laws is void. The Panel's decision conflicts with that body of precedent."

So now they are confident enough to win the same case in supreme court. Lets see what future holds for Facebook and Mark Zuckerberg.

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