Olympic rowing twins Cameron and Tyler Winklevoss have decided to drop their lawsuit against Facebook CEO Mark Zuckerberg, ending a long legal battle between the two parties.
The original lawsuit was filed in 2004. The Winklevosses said Mark Zuckerberg, after promising to work on their social networking site, to be called HarvardConnection (later ConnectU), had essentially stolen the idea and some of the code, and broken an oral agreement. The dispute was famously portrayed in the Oscar nominated film The Social Network in 2010.
In the 2008 settlement, Cameron and Tyler Winklevoss agreed to transfer the ownership of a social networking site, ConnectU, to Facebook. That agreement arose out of a dispute over who came up with the idea for the kind of social networking software Facebook uses.
After agreeing to the cash-and-stock accord, the Winklevosses sought to undo it, saying it was fraudulent because Facebook hid information from them, and that they deserved more money.
In April 2011, a federal appeals court ruled that former classmates of Facebook founder Mark Zuckerberg must abide by a deal they made when they fought Zuckerberg over ownership of the idea for a social networking site.
The 9th U.S. Circuit Court of Appeals said Cameron and Tyler Winklevoss were and are sophisticated enough to know what they were signing when they settled their original lawsuit in 2008. That settlement included a large cash payment of $65 million for the Winklevosses and Divya Narendra, their partner.
Following that decision against them, the Winklevosses vowed to take their argument to the Supreme Court. But in a filing made public by the court on Wednesday, they said they will not pursue the matter any longer.
In that filing, the Winklevosses and Narendra declined to give a specific reason for their decision, which they said was made after some careful consideration.
We've considered this case closed for a long time, and we're pleased to see the other party now agrees, Facebook said in a brief statement.