Valleywag
A legal dispute from Mark Zuckerberg's past is not going away. Three years ago, fellow Harvard students Tyler Winklevoss, Cameron Winklevoss and Divya Narendra sued Facebook CEO Mark Zuckerberg, claiming he'd taken code he'd written for ConnectU to launch his rival site. Now, legal filings reveal, the lawsuit is rolling forward, with motions to dismiss set to be heard on July 25. While it's likely that the case will keep wending its way through the courts for a while, I'm betting Facebook will settle, probably with Facebook shares rather than cash, before an IPO. After all, a lawsuit against the CEO is one of those pesky things investors don't like to see in an S-1 filing.
Mark Zuckerberg's lawsuit that won't go away
A legal dispute from Mark Zuckerberg's past is not going away. Three years ago, fellow Harvard students Tyler Winklevoss, Cameron Winklevoss and Divya Narendra sued Facebook CEO Mark Zuckerberg, claiming he'd taken code he'd written for ConnectU to launch his rival site. Now, legal filings reveal, the lawsuit is rolling forward, with motions to dismiss set to be heard on July 25. While it's likely that the case will keep wending its way through the courts for a while, I'm betting Facebook will settle, probably with Facebook shares rather than cash, before an IPO. After all, a lawsuit against the CEO is one of those pesky things investors don't like to see in an S-1 filing.
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2:34 PM on Mon Jul 16 2007
By Owen Thomas
2,679 views
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