Facebook twins drop case against founder Mark Zuckerberg

Winklevoss: the twins, who gained notoriety in the film The Social Network, met Facebook founder Mark Zuckerberg at Harvard

11 April 2012

The Olympic rowing twins Cameron and Tyler Winklevoss, made famous in the film The Social Network, today dropped their long-running dispute with Mark Zuckerberg over their claim that he stole the idea from them.

The pair had already won a $65 million settlement from Zuckerberg and his company in 2008 but went on to appeal the decision and demand more, claiming Zuckerberg hid information from them when the deal was being negotiated.

The Supreme Court recently upheld the settlement ruling and today the six foot five inch twins said they would not appeal.

Zuckerberg created Facebook in 2004 in his Harvard University dormitory room.

Facebook, in a statement, said: "We've considered this case closed for a long time, and we're pleased to see the other party now agrees."

Jerome Falk, a lawyer for the Winklevosses and Narendra, did not immediately return requests for a comment.

The brothers' decision clears the way for Facebook to seek the dismissal of a related lawsuit filed in Boston federal court.

Analysts have estimated that Palo Alto, California-based Facebook could be worth $70 billion or more should it conduct an initial public offering, perhaps in early 2012.

Facebook could be worth more than $100 billion in an IPO, CNBC television estimated last week.