Facebook and Timelines Inc. Settle Lawsuit
Facebook has settled a lawsuit with Timelines Inc. after 19 months of going back-and-forth. Based in Chicago, Illinois, Timelines Inc. sued the social networking company over trademark infringement. The settlement details can be found in Facebook’s 10-Q quarterly report that was filed with the Securities and Exchange Commission. Facebook did not disclose the settlement terms in the 10-Q, but they did indicate that the cost was not material to their business.
Timelines Inc. filed the lawsuit against Facebook in September 2011. This was around the same time that Facebook announced that a user’s profile would be now known as a “Timeline” during the company’s F8 conference. Facebook attempted to have the claims filed by Timelines Inc. invalidated, but they were unable to do so.
In Facebook’s 10-Q report, the general and administrative (G&A) expenses increased by 69% compared to the year earlier. The total G&A expenses for the quarter was $176 million. One of the major reasons for the increase in G&A was because of legal settlement costs. Facebook also made a patent settlement with another company called Summit 6 during Q1 2013.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry