Cameron and Tyler Winklevoss, the twins whose story was prominently told alongside Mark Zuckerberg’s in the movie The Social Network, have decided not to appeal to the Supreme Court concerning their $65 million cash-and-stock settlement with Facebook and Zuckerberg.
The move likely means the “Winklevi” are finally done with their long-running dispute with the world’s largest social network. Zuckerberg and the twins reached a settlement in 2008 over whether Zuckerberg stole their idea for what eventually was turned into Facebook. Later, the twins said Facebook hid information from them and therefore the settlement was fraudulent.
Facebook is reportedly aiming for an IPO in early 2012 and could be worth up to a $100 billion valuation. In January, Goldman Sachs valued Facebook at $50 billion. With all those types of numbers circulating, the Winklevoss twins had good reason to seek more than $65 million from their settlement. However, when the twins filed to not appeal to the Supreme Court, they did not give a reason.
The 6-foot 5-inch twins, who are also known for competing in the men’s pair rowing event at the 2008 Beijing Olympics, claim that Zuckerberg stole their idea for a campus-only social network after working for them on the site HarvardConnection, which later became ConnectU. Zuckerberg created Facebook in 2004 in his Harvard University dorm room.
The story of Zuckerberg, the Winklevoss twins, and the creation of Facebook was told in the Academy-Award-winning The Social Network. The movie won Oscars in February 2011 for Best Adapted Screenplay, Best Original Score, and Best Film Editing.