new legal drama
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

The Facebook saga grows

New legal drama

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleNew 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.

themuslimchronicle
themuslimchronicle

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

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 06:40 2017 Saturday ,16 December

Walker needs brains not just brawn

GMT 08:15 2017 Thursday ,07 September

US oil giant ExxonMobil plans Cyprus gas exploration

GMT 18:11 2011 Monday ,18 April

Zimbabwe and Zambia in tug of war over Vic Falls

GMT 16:05 2017 Tuesday ,31 October

Qadih calls for involving private sector

GMT 09:20 2017 Wednesday ,15 November

Qualcomm spurns $130 bn Broadcom bid for big tech tie-up

GMT 13:43 2017 Tuesday ,24 October

Stabbed Russian journalist 'in recovery'

GMT 10:26 2017 Friday ,14 April

Sock topples Haas to reach ATP Houston quarters

GMT 14:00 2017 Saturday ,25 November

Sudan condemns terrorist attack in Egypt

GMT 09:40 2017 Monday ,04 December

Stade down Racing, Clermont edge plucky Agen

GMT 08:08 2017 Thursday ,05 October

Injury jinx strikes again as Iordache exits

GMT 11:20 2017 Tuesday ,05 December

Prodigal son: Saleh Saudi overture tips Yemen balance

GMT 09:35 2013 Saturday ,31 August

Afghan suicide attack kills 6, hurts 20 in south

GMT 23:36 2016 Sunday ,11 December

Suicide attack in Istanbul claims 29 lives

GMT 18:29 2013 Sunday ,10 November

Samsung\'s Galaxy Note 3 top 5m

GMT 14:52 2013 Sunday ,24 November

Computer game opponents begin to think, feel alike
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle