FaceBook Gettin Sued... Again
And again its the twins doing the suing!
Have a read here: BBC World Service - News - Winklevoss twins back in court to contest Facebook settlement
What do warriors think?
Personally i think its nothing but a cash grab and an ego boost. Ive seen the movie, read the articles and its obvious that they did have some sort of influence no matter how small on the decision to go ahead with the idea for facebook by Mark.
BUt its like, 'hang on a sec...? Didnt you twins just get 65 mil for having an idea.'
They havent put that idea to use, they havnt done the hard work and now they are trying to suck whatever else thay can out of fb. I also think that they will not get very far with their new claim and only make themselves look like the jerks they really are.
The apparent argument is that when they where awarded the previous settlement of 65 million in stocks, that the stock prices where artificially raised (im guessing in the hope by facebook that they would cash them there and then) and to give them less stocks in essence which means less money in the long haul cos the price was infalted. But since then the stock has sky rocketed and their share should today be worth 200 million.
The large problem with this is that the apparent fixing of the stock value was done internally by facebook...
Facebook can argue this a number of ways.
And in fact the depth to this is HUGE, because facebook can turn around and say 'well we didnt agree to original settlement but it was a percentage that the courts awarded to the twins based on an approved and agreed to evaluation of the value of the company at the time (these cases are capped and closed leaving not much room for future litigation, basically meaning the twins are back pedalling) which the twins agreed to'.
Or they could simply say the valuation was a true indication at the time from an internal perspective 'we didnt have the resources to value the company like an outsider would'. So therefor the agreed price was a true indication at the time.
Or
a very large variation of these arguments + many many more.
What do you think?
Have a read here: BBC World Service - News - Winklevoss twins back in court to contest Facebook settlement
What do warriors think?
Personally i think its nothing but a cash grab and an ego boost. Ive seen the movie, read the articles and its obvious that they did have some sort of influence no matter how small on the decision to go ahead with the idea for facebook by Mark.
BUt its like, 'hang on a sec...? Didnt you twins just get 65 mil for having an idea.'
They havent put that idea to use, they havnt done the hard work and now they are trying to suck whatever else thay can out of fb. I also think that they will not get very far with their new claim and only make themselves look like the jerks they really are.
The apparent argument is that when they where awarded the previous settlement of 65 million in stocks, that the stock prices where artificially raised (im guessing in the hope by facebook that they would cash them there and then) and to give them less stocks in essence which means less money in the long haul cos the price was infalted. But since then the stock has sky rocketed and their share should today be worth 200 million.
The large problem with this is that the apparent fixing of the stock value was done internally by facebook...
Facebook can argue this a number of ways.
And in fact the depth to this is HUGE, because facebook can turn around and say 'well we didnt agree to original settlement but it was a percentage that the courts awarded to the twins based on an approved and agreed to evaluation of the value of the company at the time (these cases are capped and closed leaving not much room for future litigation, basically meaning the twins are back pedalling) which the twins agreed to'.
Or they could simply say the valuation was a true indication at the time from an internal perspective 'we didnt have the resources to value the company like an outsider would'. So therefor the agreed price was a true indication at the time.
Or
a very large variation of these arguments + many many more.What do you think?
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