I refuse to use the term “Winklevii” (except that I just used it), so let’s proceed. Tyler and Cameron Winklevoss are those twins that are suing Mark Zuckerberg amidst claims that Zuckerberg stole their idea for Facebook.
The two brothers have already gotten a sizable multi-million-dollar settlement from the whole Facebook ordeal, but they were competitive rowers in college and if you’ve ever met a former competitive rower you’ll agree with me that you can take the rower out of the skinny boat but you can’t take the skinny boat—in this case, a metaphor for going after something you believe you deserve—out of the rower. Something like that.
The only recourse left for Tyler and Cameron is to get their case heard by the Supreme Court, which they have every intention of doing. The Supreme Court may ultimately see things differently, but the brothers’ lawyer issued a statement saying that “The Ninth Circuit’s opinion creates a conflict between Ninth Circuit precedent and the decisions of other federal courts on two issues.” Those two issues, according to the statement, are as follows:
“The first is the Court’s holding that a party who is defrauded into entering into a settlement agreement cannot challenge the contract on the ground of fraud. Federal and state courts have long held that a settlement founded on fraud must be set aside. The Court’s decision conflicts with that body of precedent.
The second issue is the Court’s holding that a routine agreement to hold statements made in a mediation confidential bars proof that Facebook committed securities fraud in the mediation. Numerous federal precedents, and the text of the 1934 Securities Exchange Act, hold that an agreement to directly or indirectly waive rights under federal antifraud provisions of the securities laws is void. The Panel’s decision conflicts with that body of precedent.”
So now we play the waiting game. The Ninth Circuit Court of Appeals has refused to entertain the Winklevosses’ legal claims any further, but will the Supreme Court hear their case or take a pass as well?
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