new legal drama
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

The Facebook saga grows

New legal drama

Arab Today, arab today

Arab Today, arab today New legal drama

San Francisco - AFP
Arabstoday

                                                       Mark Zuckerberg San Francisco - AFP The drama of the Facebook story heightened as a man with a shady past used old emails and a powerful law firm to press his claim to half the online social networking firm.
A legal claim filed last year by Paul Ceglia and deemed dubious by many was being re-evaluated after lawyers at DLA Piper amended the complaint to include emails that appear to back the New York State man's position.
Ceglia contended that he hired then Harvard University student Mark Zuckerberg in 2003 to do software coding for a StreetFax website and wound up providing seed money for what Zuckerberg than called "the face book."
Evidence presented by Ceglia, whose background includes criminal charges for fraud and a conviction for possession of hallucinogenic mushrooms, included a signed contract and email exchanges.
"This is a fraudulent lawsuit brought by a convicted felon, and we look forward to defending it in court," Facebook lawyer Orin Syder of Gibson, Dunn & Crutcher said in a statement.
"From the outset, we've said that this scam artist's claims are ridiculous and this newest complaint is no better."
Ceglia claims he provided Zuckerberg with $2,000 in exchange for half of what is now Facebook, which boasts more than 600 million members and was recently valued at $50 billion.
DLA Piper has defended the integrity of the email, saying it conducted tests to confirm the exchanges were not altered.
Zuckerberg reportedly did work on StreetFax for Ceglia, but Facebook wasn't part of the deal.
Zuckerberg signed a contract with Ceglia in April 2003 for "the purchase and design" of a live Harvard yearbook website with the working title of "The Face Book," according to the lawsuit.
Ceglia has maintained that he forgot about the matter until coming across the contract while defending himself against charges that he defrauded customers of his wood pellet business.
Ceglia's amended complaint was separate from a lawsuit by Tyler and Cameron Winklevoss that became fodder for Hollywood film "The Social Network."
A US appeals court ruled on Monday that the Winklevoss twins can't back out of the settlement deal they made in a lawsuit charging that Zuckerberg stole their idea for Facebook.
"The Winklevosses are not the first parties bested by a competitor who then seek to gain through litigation what they were unable to achieve in the marketplace," the 9th US Circuit Court of Appeals said.
"At some point, litigation must come to an end," the court said. "That point has now been reached."
The Winklevoss brothers claim they enlisted Zuckerberg to finish software code for their ConnectU social-networking website while they were all students at Harvard University in 2003.
Zuckerberg, a second year student at the time, took their code and their idea and launched Facebook in February 2004 instead of holding up his end of the deal, according to the brothers. Facebook rejects that account.
The twins inked a settlement two years ago that got them $20 million in cash and $45 million worth of stock valued at $36 per share.
The value of that yet-to-be-issued stock has skyrocketed along with Facebook's estimated market value, the judges noted in their ruling.
The brothers challenged the settlement, which was supposed to be confidential, on the grounds that Zuckerberg suckered them during settlement talks by not revealing Facebook internally valued the stock at $9.
The lower figure would have resulted in the Winklevoss twins getting many more shares.
The Winklevoss brothers based the value of Facebook stock on news that months earlier technology giant Microsoft had bought a small piece of the social networking star in a deal that valued the stock at just shy of $36 and the company at $15 billion.
While the cases are not related, forensic analysis of Zuckerberg's computer hard drives and emails could wind up used to either back up or debunk Ceglia's claim in court.
Computers Ceglia used for any exchanges with Zuckerberg would also be fair game as potential evidence.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

new legal drama new legal drama

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

new legal drama new legal drama

 



GMT 15:56 2013 Thursday ,31 January

Business with pleasure

GMT 08:43 2017 Friday ,17 November

Bulldog Skincare For Men launches Age Defence Range

GMT 21:42 2017 Friday ,08 December

Al Masly: country’s market attractive

GMT 10:16 2015 Sunday ,25 October

Robot adapts speech to get your attention

GMT 16:47 2017 Friday ,08 September

Pakistan not to take brunt of others fiasco: Air Chief

GMT 06:10 2017 Tuesday ,07 March

Cultural gems that are part of world heritage

GMT 10:27 2015 Monday ,06 July

Mini to launch ‘Clubman’ in 2016

GMT 07:05 2017 Monday ,06 November

Young Engineers in the Making at SIBF 2017

GMT 17:05 2017 Saturday ,07 October

Formula One: Hamilton one of best all time, says Wolff

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:21 2017 Thursday ,26 October

US Congress passes $36.5 bn
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday