Wednesday, April 13, 2011

CODA: Who Owns Facebook? The Plot Thickens

Well, despite the Federal court decision which effectively benched the Winklevoss's appeal, the tale of who was actually present at the birth of the landmark social networking site is not yet over.

For, lost in the mists of time, did Mark Zuckerberg in fact sign away half of Facebook.com to investor Paul Ceglia, as a lawsuit claims? Although one could easily imagine spurious claimants to the Facebook fortune coming out of the woodwork for years to come, investor Paul Ceglia has provided an email trail with  Mr. Zuckerberg claiming that they had an agreement. Henry Blodget's Business Insider website suggests that the evidence is "startling."  Mr. Ceglia's lawsuit has been filed by a major law firm.  Perhaps Tyler and Cameron Winklevoss and Eduardo Savarin should be happy that they reached prior settlements and can take the money and run.

The Business Insider offers the full story here

An interesting review of the previous Facebook saga, aside from Ben Mezrich's excellent Accidental Billionaires and the wonderful film "The Social Network" is offered here at the Wall Street CheatSheet

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