A few days ago, I wrote about how former Harvard University president called the Winklevoss twins a**holes while on stage at a conference hosted by Fortune. In a politically correct response, the Winklevoss twins responded by saying “We now further understand why our meeting was less than productive; someone who does not value ethics with respect to his own conduct, would likely have little interest in this subject as it related to the conduct of others. Perhaps there is a “variability of aptitude” for decency and professionalism among university faculty.” That statement was made in a letter to current Harvard University president Drew Faust.

Larry Summers was the U.S. Secretary of Treasury under President Bill Clinton and served as the 27th President of Harvard University. Actor Douglas Urbanski played Summers in the hit movie “The Social Network. Those of you that have seen the movie will know that Summers dismissed Tyler and Cameron Winklevoss when they presented him with the case that Facebook co-founder Mark Zuckerberg stole their idea. The real Larry Summers told his side of the story and he did not have kind words about the twins.

The Ninth Circuit Court of Appeals denied Tyler and Cameron Winklevoss’ request for rehearing their high-profile lawsuit against Facebook and Facebook CEO Mark Zuckerberg. Howard Rice, the lawyer for the twins, said that they intend to petition the lawsuit to the U.S. Supreme Court. Rice, the Winklevoss twins, and Divya Narenda want to invalidate a previous multi-million settlement due to suspicion for not receiving the true valuation of the social networking company at the time of the settlement. Below is a press release about the lawsuit:

If you saw the movie The Social Network, you will know who the Winklevoss brothers and Eduardo Saverin is. Eduardo is a co-founder of Facebook that was at one point muscled out. Eduardo’s name was restored to the masthead and he was given significant equity in Facebook again.

Yesterday Winklevoss twins Tyler and Cameron almost considered a decision to stop pursuing a reviewed lawsuit against Facebook. Mark Zuckerberg and Facebook settled with the Winklevoss twins for $20 million in cash and $45 million in Facebook stock. But the twins want more… They want over $140 million from Zuckerberg and Facebook.

The twins prepared a statement earlier this week about how they still feel cheated by Zuckerberg. The settlement should have a far larger value than what was originally decided. The twins still believe that Zuckerberg did not come up with the idea for Facebook. The twins will be pursuing the case on January 11th in front of the United States Court of Appeals for the Ninth Circuit in San Francisco.

This isn’t the only court case that the Winklevoss’ are involved in. Wayne Chang claims to have ownership in ConnectU, meaning he wants some of the settlement money. “The principle is that they didn’t fight fair,” stated Tyler Winklevoss in an interview. “The principle is that Mark stole the idea.”

[New York Times]

A judge in New York upheld a payout of $13 million for law firm Quinn Emanuel. Quinn Emanuel represented ConnectU in an I.P. litigation case against Facebook.

ConnectU co-founder Divya Narendra has invested in buy-side investment professional social community SumZero. Buy-side analysts perform research and makes recommendations on how an investment will perform. Members of SumZero include hedge fund, private equity, and mutual fund analysts. Some of the analysts that are in SumZero include those who work at firms such as KKR, Blackstone, and SAC. [TechCrunch]

Tyler and Cameron Winklevoss are back in the news again. The two twin brothers along with the other ConnectU Divya Narendra are accusing Mark Zuckerberg of securities fraud. The ConnectU founders believe that Zuckerberg and Facebook tricked them into settling for $65 million, but the deal was actually worth far less than expected.