End of the Line for the Winkelvi?
Barring a stunning grant of certiorari by the U.S. Supreme Court, or perhaps a sequel to "The Social Network," we may have finally seen the last of Cameron and Tyler Winklevoss. On Tuesday, the 9th U.S. Circuit Court of Appeals declined to grant the Winklevoss twins a rehearing, Hollywood, Esq. reports. Last month, a panel of judges on the 9th Circuit held that the Winkelvi were stuck with the cash and stock settlement (valued at over $65 million) they had negotiated back in 2008 to resolve their now-famous lawsuit against Facebook founder Mark Zuckerberg. The Winkelvi claimed that Zuckerberg stole their idea while they were classmates at Harvard.
Immediately following the 9th Circuit's order Tuesday, the Winkelvi announced, predictably, that they would now appeal to the Supreme Court. The lawyers representing the twins stated that:
Settlements should be based on honest dealing, and courts have wisely refused to enforce a settlement obtained by fraudulent means. The Court's decision shut the courthouse door to a solid claim that Facebook obtained this settlement by committing securities fraud. Our Petition to the Supreme Court will ask the high court to decide whether that door should be reopened.
Appellate experts such as SCOTUSBlog's Tom Goldstein pegged the odds of the Supreme Court hearing the appeal at "zero" because the dispute is primarily about facts rather than broad legal issues. Stanford Law school professor Joe Grundfest agreed, joking that in his view the Winkelvoss twins' certiorari petition "will not get many 'like' buttons" from the Court.
Analyzing the twins' intense pursuit of the litigation, Dr. Mark Levy, a forensic psychiatrist, told ABC News that the Winkelvi may really be looking for "a psychological, not legal, remedy" and the chance to "have their victimization witnessed on the stage of litigation." He labeled it a "theatrical desire."
Posted by Bruce Carton on May 18, 2011 at 04:58 PM | Permalink
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