Winklevoss twins lose Facebook appeal

Court of Appeals says litigation is over
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The US Court of Appeals has ruled that Tyler and Cameron Winklevoss, who claim that the idea for Facebook was stolen from them by Mark Zuckerburg, must accept a settlement already agreed with the social networking firm.

The brothers had previously accepted a cash and stock settlement worth $65 million back in 2008. However, they argue that the settlement was unfair because the true value of Facebook had been hidden from them and they now seek more shares.

In the ruling, the judges said: ”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.

”At some point, litigation must come to an end. That point has now been reached.”

A lawyer for the twins has said that his clients would seek a rehearing – perhaps this lawsuit isn’t quite finished after all.

The Winklevosses hired Zuckerberg to work on their website in 2003 but instead he launched Facebook in 2004.

Their legal battle against Facebook creator Zuckerberg has been made into a film – The Social Network – since nominated for Best Picture at the Oscars.

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