Winklevoss Twins Ask Appeals Court to Undo Facebook Settlement

Facebook Inc.’s settlement of claims that its founder Mark Zuckerberg stole the idea for the social- networking company should be undone, former college classmates of Zuckerberg told an appeals court. The ex-Harvard University classmates, twins Cameron and Tyler Winklevoss, asked a three-judge panel of the U.S. Court of Appeals in San Francisco to void the 2008 agreement because closely held Facebook, based in Palo Alto, California, didn’t disclose an accurate valuation of its shares before agreeing to pay them $65 million in stock and cash. In the same year, a lower court ruled the accord was binding.