A federal appeals court ruled Monday that former Harvard University schoolmates of Facebook founder Mark Zuckerberg can’t undo their settlement over creation of the site.
The 9th U.S. Circuit Court of Appeals said Monday that Tyler and Cameron Winklevoss were savvy enough to understand what they were agreeing to when they signed the agreement in 2008. The deal called for a $20 million cash payment and a partial ownership of Facebook.
“At some point, litigation must come to an end,” Chief Justice Alex Kozinksi wrote for the unanimous three-judge panel “That point has now been reached.”
The settlement is now worth more than $160 million because of Facebook’s increased valuation.
The twins had alleged they were misled about Facebook’s value when they agreed to settle their lawsuit that claimed Zuckerberg stole their idea.
Associated Press
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