The fight that was played out in the film ‘Social Network’ appears not to have become reality with the Winklevoss twins deciding not to appeal a settlement at the US Supreme Court over the origins of Facebook.Facebook founder Mark Zuckerberg’s Harvard classmates, Cameron and Tyler Winklevoss, did not give any reasons for why the case was being dropped, but the decision now leaves the way open for Facebook to go to IPO without any threat of legal action.
The twins, and their business partner Divya Narendra, will still however walk away with hundreds of millions of dollars worth of stock, according to the Wall Street Journal.
The original settlement awarded to the trio $20 million in cash and $45 million worth of private Facebook stock at a time when the company was valued at $15 billion.
Immediately after the settlement, the twins complained that important information had been left out during negotiations, and that the $65 million settlement did not represent what they felt they were due.
Despite legal proceedings to throw out the settlement, several court rulings subsequently decided the settlement had to stay in place.
