Greenwich natives Cameron and Tyler Winklevoss are continuing their legal battle against Facebook and its founder, Mark Zuckerberg, a dispute depicted in the hit movie "The Social Network."
On Tuesday, lawyers for the Winklevoss twins, who have also made their mark as Olympic rowers, and their business partner Divya Narendra asked a three-judge panel of the U.S. 9th Circuit Court of Appeals in San Francisco to void a 2008 settlement over a dispute that Zuckerberg stole the idea for the social-networking site from them.
They said that Facebook didn't give an accurate valuation of its shares before agreeing to pay the brothers $65 million in stock and cash, according to a report from Bloomberg News. Their lawyer, Jerome Falk, told Bloomberg that lawyers on both sides made mistakes. "The mistake was entering into a transaction with business issues that needed to be addressed and weren't," Falk told Bloomberg. The lawyer told Bloomberg the settlement is worth $100 million more than its original amount after Goldman Sachs Group Inc. invested $450 million in the company.
Facebook said the Winklevoss twins have a "bout of settler's remorse," Bloomberg reported.
Did you see the movie "The Social Network?" How accurate was the portrayal of the Winklevoss twins?
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