Winklevoss Twins Continue Losing Streak
In people crying warm, salty tears into piles of money news, it looks like Cameron and Tyler Winklevoss are going to have to hand over $13 million in legal fees to the law firm Quinn Emanuel Urquhart & Sullivan (QEUS).
Over the last couple of years, the Winklevii and their never say die attitude pursued Facebook and Mark Zuckerberg until multiple appellate bodies told them enough was enough.
After accepting a $65 million settlement from their claim that Zuckerberg stole the whole Facebook idea out from under them, the zombie litigators reopened the case in January. They sought more money, claiming that they were misled by Facebook’s own valuations of the company.
In April, an appellate judge ruled that the Winklevii must accept the original settlement, stating that “at some point, litigation must come to an end.” Does not compute, they said, and filed another motion to have a larger group of appellate judges hear their argument. That was also denied.
Then they hinted that they would file with the Supreme Court of the United States, but later backed off that idea.
While all this was going on, they were also going after the QEUS law firm. This is the firm that represented them in the original case against Zuckerberg – you know, the one in The Social Network. The Winklevii claimed malpractice, saying that the law firm violated confidentiality when they revealed the amount of the original settlement in “marketing literature.”
Apparently, that suit is over as well. The Hollywood Reporter says that an appellate court in New York has refused to hear any further arguments in the matter. They will have to pay QEUS the $13 million in legal fees.
This ruling was made a while ago by an arbitration panel and then upheld by a NY Supreme Court judge before reaching this stage.
Let’s just hope that the twins made enough shilling pistachios to cover the fees.