Days after deciding not to appeal against the settlement which gave them millions of dollars of Facebook cash, the Olympic rowing twins Cameron and Tyler Winklevoss have started another court battle against the social not-working outfit.
The case has been filed in the US District Court of Massachusetts. The twins and their business partner, Divya Narendra, said they would move the court for discovery on whether Facebook "intentionally or inadvertently suppressed evidence" during settlement proceedings, over claims that Zuckerberg stole their idea for a college social networking website.
The court documents will show the exact relationship between the twins and Zuckerberg at the time of Facebook's founding and says that Facebook should have disclosed those documents during the original settlement chats.
It is effectively a second bite at the cherry, and looks similar to the original complaint trying to get the same thing using a different legal means.
After agreeing to the cash-and-stock deal, the Winklevosses claimed it was fraudulent because Facebook hid information from them, and that they deserved more money.
Facebook's outside counsel Neel Chatterjee told Reuters that the new charges are "old and baseless" allegations that have been considered and rejected by the courts.
It all promises a very dull sequel in The Social Network: 2.
Web 2.0, another tech bubble? Well if facebooks IPO is being valued at $100 Billion and investors are crazy enough to pay that much even with all the pending litigation facebook is now facing, pending investigations involving possible privacy violations for it's facial recognition software, and future anti-trust issues with it's global growth, then YES WE ARE IN A BUBBLE!
Facebook, in order to continue to grow, and satisfy investors will need average a few million new users a month, and also continue to acquire companies, and/or copy and create companies like groupon and living social that they were once in business with.
Can you say monopoly and anti trust?
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