arvard students Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra accused Zuckerberg of intentionally making them believe he would help them build a social network called HarvardConnection.com (later called ConnectU).[35] They filed a lawsuit in 2004 but it was dismissed on a technicality on March 28, 2007. It was refiled soon thereafter in federal court inBoston, and a hearing was scheduled for July 25, 2007, to address Zuckerberg's motion to dismiss.[36] At the hearing the judge told ConnectU that parts of the complaint were deficient and gave them leave to file an amended complaint. Facebook countersued in regards to Social Butterfly, a project put out by The Winklevoss Chang Group, an alleged partnership between ConnectU and i2hub. It named among the defendants ConnectU, Cameron Winklevoss, Tyler Winklevoss, Divya Narendra, and Wayne Chang, founder of i2hub.[37] The parties reached a confidential settlement agreement in February 2008.[38] On June 25, 2008, the case settled and Facebook agreed to transfer over 1.2 million common shares and pay $20 million in cash.[39] In May 2010, it was reported that the ConnectU founders were accusing Zuckerberg of securities fraud for misrepresenting the value of the shares.[40] The founders were under the impression they were worth $45 million.[40] However, that understanding was based on a valuation of preferred shares, whereas the founders had only received common shares.[40] The effect was that the shares given to the founders as part of the settlement were worth 75% less than Facebook had led them to believe, and the overall cash-and-stock deal worth 50% less.[40] Since the time of the settlement, the stock has been trading for $76 per share on secondary markets, which would put the value of the settlement at $120 million.[41]According to one report, the Winklevoss brothers plan to sue Facebook again based on allegations that Facebook misled them as to the valuation of the settlement.[41]
In November 2007, confidential court documents were posted on the website of 02138, a magazine that catered to Harvard alumni. They included Zuckerberg's social security number, his parents' home address, and his girlfriend's address. Facebook filed to have the documents removed, but the judge ruled in favor of 02138.[42]
When you copy something from someplace or even paraphrase something from a source then due credit to sourc is very much due and cannot be ignored. And if it is not done, you very well know what is it called. Learning comes with trial & error, so get to the higher level of learning curve :-)
ReplyDeleteoh god BHAIYA STOP being a blog police of mine n that is a common law suit which every one kws i ve posted it cos the one who does not kw bout terrific law suit of Facebook like u sd kw frm here kindly appreciate the extract,,,,n pl z everyone does nt kw that u get 500million frenz without making few enemy, so thats terrific news bout fb law suit
ReplyDeleteI am not being a blog police here...just wanted you to give due credit to the source from where you have got the information. It is well known that the information is not yours, it is sourced from somewhere, so that somewhere (source) has to be mentioned.
ReplyDeleteyeah that ikw its not my info its american courts info i guess seein the type of info... u cd ve guseed that
ReplyDelete