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Winklevoss twins settle Facebook lawsuit

June 23, 2011 • Top Stories

Facebook founder Mark Zuckerberg

The Winklevoss twins, who helped Facebook founder Mark Zuckerberg start the very successful social networking site, decided to end their legal proceedings against their former classmate and business partner.

The on-going legal battle was the basis and inspiration for the film The Social Network, and the twins decided to end it with as little fan-fare as possible.

In a simple one-paragraph court filing the brother stated that they didn’t wish for the matter to end up in the US Supreme Court, and will accept a deal agreement that was made between them and Zuckerberg in 2008.

As part of that agreement, the Winklevoss brothers will get $ 20m cash and stocks in Facebook. At the time of the agreement the stock was worth around $ 45m, but fast-travel three years later, and Facebook’s value has grown more than fourfold, from $ 15bn to $ 70bn. According to analysts, the brothers’ stock should in theory be worth more than $ 150m.

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