Winklevoss Twins Abandon Appeal

Mark Zuckerberg has one less thing to worry about now that Cameron and Tyler Winklevoss have decided not to appeal the Supreme Court ruling upholding their $65 million settlement with Facebook and its young founder. After agreeing to the cash-and-stock accord in 2008, the Olympic rowing twins sought to undo it, saying it was fraudulent because Facebook hid information from them, and that they deserved more money, Reuters reports.

The Winklevosses had been planning to appeal an April 11 ruling by a federal appeals court in San Francisco upholding the settlement, which that court called "quite favorable." But in a filing on Wednesday with that court, the Winklevosses said that after "careful consideration," they decided not to seek Supreme Court review," according to Reuters, adding, "The filing did not give a reason for the decision."

For its part, Facebook said in a statement: "We've considered this case closed for a long time, and we're pleased to see the other party now agrees." Meanwhile, this week's filing clears the way for Facebook to seek the dismissal of a related lawsuit filed in Boston federal court, Reuters adds.

Read the whole story at Reuters »
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