Winklevosses To Challenge Today’s Facebook Ruling
Earlier today a panel of Federal Appeals judges ruled that the Winklevoss twins had to accept a ruling that had them make due with a meager $65 million in settlement. But apparently the case is not closed, as the Winklevosses will be filing for a rehearing with the entire 9th Circuit Court of Appeals bench.
Jerome B. Falk, Jr., of Howard Rice in San Francisco, lead appellate counsel for Cameron Winklevoss, Tyler Winklevoss and Divya Narendra gave me the following in a statement:
“The Ninth Circuit has affirmed the District Court’s enforcement of the settlement over my clients’ objection on the ground that the settlement was obtained in violation of the federal securities laws. I appreciate the Ninth Circuit’s thorough discussion of the issues.
However, I respectfully disagree with the Ninth Circuit’s conclusions. In my judgment, the opinion raises extremely significant questions of federal law that merit review by the entire Ninth Circuit Court of Appeals. For that reason, my colleagues and I will file a Petition For Rehearing En Banc within the next fifteen days.”
Neither Falk or his clients are currently granting interviews, but Tyler Winklevoss is apparently tweeting out the entire statement.