Facebook CEO Mark Zuckerberg Being Accused Of Security Fraud By ConnectU Founders

Posted May 21, 2010

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.

The ConnectU founders hired Zuckerberg to build a project for them, but he kept delaying the project only to release TheFacebook — a replica of the idea that the ConnectU founders came up with. The ConnectU founders even have instant messages sent by Zuckerberg bragging about how they duped them into settling for a small amount.

Divya, Camera, and Tyler sent an appeal alleging that a settlement was never finalized. Judge James Ware ruled he will not hear the appeal. Instead a three-judge panel will hear the appeal once it reaches the court according to VentureBeat.