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Facebook Settled Origin Suit For $65m

Facebook Settled Origin Suit For $65m

$65 million sounds like a lot of money. Okay, it is a lot of money. But compared to the $15 billion valuation put on social networking site Facebook, it’s peanuts. Yet it’s the amount Mark Zuckerberg agreed to pay former Harvard classmates, Cameron and Tyler Winklevoss, to settle the suit they brought against him, claiming he stole the idea for Facebook from their site, HarvardConnect, which became Connect U.

The amount had never been officially disclosed, but was revealed in a newsletter from California legal firm Quinn Emmanuel Urquhart Oliver & Hedges, which acted for the Winklevoss brothers. It was spotted by The Recorder.

The advertising newsletter states that it won $65 million from Facebook, paid in cash and shares.

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