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Winklevoss Twins Appeal Facebook Settlement Ruling

04/18/11 03:04 PM ET   AP

Winklevoss Appeal Facebook Settlement

SAN FRANCISCO -- A Facebook lawsuit at the heart of the Hollywood blockbuster "The Social Network" lives on.

Two former Harvard University classmates of company founder Mark Zuckerberg asked a federal appeals court Monday to reconsider its order that they accept a settlement over the website's creation.

Tyler and Cameron Winklevoss initially claimed Zuckerberg stole their idea for Facebook but agreed to drop their lawsuit in 2008 in exchange for $20 million in cash plus stock in the company.

The twins say they later discovered the stock was worth less than claimed at the time, and they sought to have the deal voided.

A three-judge panel of the 9th U.S. Circuit Court of Appeals ruled against the Winklevosses last week. Their lawyers have asked for a special 11-judge panel to consider their appeal.

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Filed by Catharine Smith  |