Winklevoss Twins Say Facebook, Mark Zuckerberg Owe Them More Money

4:46 PM PST 12/31/2010 by Paige Feigenbaum
Stephen Lovekin/Getty Images

Disgruntled former colleagues plan to reopen their case, risking losing the millions they already pocketed.

Portrayed by Armie Hammer, Tyler and Cameron Winklevoss got plenty of screen time in movie theaters with the box office sensation and award contender The Social Network. Moving from the entertainment section of the news to the business beat, the Olympic rowers are once again going after Time Magazine’s person of the year Mark Zuckerberg and his multi-billion dollar company, Facebook.

According to the New York Times, the brothers are continuing efforts to reach a new settlement with the company, despite sources telling the newspaper a statement was drafted on Thursday to drop the case.

After a four year battle beginning in 2004, the Winklevoss’ reached a settlement worth $20 million in cash and $45 million in Facebook shares. Their argument now is that they were allegedly misguided on the value of the business empire. Since the settlement was reached, the value of Facebook shares has risen, reaching an estimated worth of more than $140 million.

The new years resolution for the Winklevoss’ is to come to a settlement they feel is fair and just. In January, they, along with fellow Harvard classmate Divya Narendra, plan to ask a federal appeals court in San Francisco to reverse the settlement, so they can reopen their original case. They’d be taking a gamble, risking losing the millions they already pocketed. However, Tyler insisted it’s not about the dollar signs. “The principle is that they didn’t fight fair,” he told the NYT. “The principle is that Mark stole the idea.” Cameron added, “What we agreed to is not what we got.”

Facebook stated the Winklevoss twins have “settler’s remorse.” The site declined an interview on behalf of Zuckerberg, but spokesman Andrew Noyes told the NYT that Facebook would not comment “beyond what is already in our appellate briefs.”

Zuckerberg has long maintained his innocence, claiming he thought of the Facebook concept on his own and the Winklevoss’ social networking website was of a different nature. Aaron Sorkin’s unauthorized tale of the drama-filled events on the ivy filled campus of Harvard to the money-flowing city of Silicon Valley, The Social Network, is nominated for six Golden Globes.

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