Winklevii Lose Again: Have To Pay Their Lawyers $13 Million
from the synonymous-with-losing dept
The Winklevii really are working extra hard to make sure that their names are synonymous with "losers" aren't they? Having already lost in court again and again in their attempts to claim ownership of Facebook, the Winklevoss twins have now lost in their attempt to get out of having to pay their original lawyers $13 million. In case you haven't followed the story (and didn't see The Social Network), the Winklevii came to a settlement agreement with Mark Zuckerberg and Facebook, which has made them fantastically more wealthy than they already were. But they got greedy, and after the settlement was signed, tried to back out of it, claiming that they were misled in the negotiations. The courts have rejected that argument (links above), and so they also sued their lawyers, insisting that it was all their fault. It kind of makes you wonder if they have any idea how badly they're trampling on their own reputation with these lawsuits.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Filed Under: lawsuits, winklevii, winklevoss
Companies: connectu, facebook
Reader Comments
Subscribe: RSS
View by: Time | Thread
In the words of Nelson
[ link to this | view in thread ]
Re: In the words of Nelson
"They will look up to me and say, ' Help me!'
"And I will whisper, 'No'."
[ link to this | view in thread ]
Improves their reputation
This is their reputation. They're doing ads now. They know they'll never be taken seriously as businessmen, so why not make a career out of getting their asses kicked?
[ link to this | view in thread ]
Little help
Anyone?
[ link to this | view in thread ]
Re: Little help
[ link to this | view in thread ]
What reputation? If anything, it feels like it confirms their reputation, that of losers ;)
[ link to this | view in thread ]
Re:
[ link to this | view in thread ]
[ link to this | view in thread ]
Re: Little help
[ link to this | view in thread ]
Makes you wonder
Of course most people would stop suing if they kept losing money as a result.
[ link to this | view in thread ]
For $13m I'd tell everyone I slept with pigs and ate raw sewage on toast.
[ link to this | view in thread ]
Re:
[ link to this | view in thread ]
Re: Improves their reputation
[ link to this | view in thread ]
Re: Re: Little help
[ link to this | view in thread ]
Losers???
If I try to do something and fail, then sue some other guy for my inability to execute and make $160 million; it's difficult for me to see the downside. Losing $13 million in legal fees and maybe another 27% to the current legal team isn't exactly a bad thing.
They don't care about reputation at all. They care about milking as much as they can from the settlement and they are doing a damn good job at it.
When this is over they will probably be board members at Intellectual Ventures.
[ link to this | view in thread ]
Re: Re: Little help
[ link to this | view in thread ]