Winklevii lose appeal to increase settlement amount

Cameron and Tyler Winklevoss can’t seem to get no love these days. First they were publicly called “assholes” by former Harvard president Larry Summers and now they are being told they must stick with the measly $65 million settlement they were originally awarded from their Facebook lawsuit. After being awarded that small sum of money, the twins filed a motion last month claiming that Facebook purposely withheld evidence during the lawsuit that ended with the settlement. In brief, the Winklevii said that the $65 million was awarded based on outdated price valuation of the social media giant and that the settlement cash should have been based on a more recent $100 billion valuation of Facebook. Using Winklemath, the new settlement, should it have been approved by the courts, will have increased to $500 million.

Divya Narendra, the third person involved in ConnectU’s creation was also part of this motion as well as the initial settlement. U.S. District judge Douglas Woodlock tossed out the motion yesterday in Boston, effectively putting an end to any future litigation Facebook could face from Narendra or the Winklevoss twins. Hopefully the three of them will be able to survive on $21.5 million they each gained from the settlement.

Source: Digital Trends

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