Facebook Under Fire… Again

Another day, another lawsuit for Mark Zuckerberg and Facebook.  Except this time, it’s not a couple of pompous twins with an unwarranted sense of entitlement.  It also has the possibility of being exponentially larger than the Winklevoss $65 million dollar settlement.
Paul Ceglia, the plaintiff in the newest accusation against facebook, alleges that he is legally entitled to 50% ownership of Facebook.  If my math is correct, that’s like half of an estimated $50 billion dollars.  What makes this case so much different than the Winklevoss allegations is Ceglia has written documents signed by Zuckerberg as well as several email correspondences between the two of them.
The relationship between Ceglia and Zuckerberg started in 2003.  Mark responded to a Craig’sList ad placed placed by Ceglia who was looking to hire a software programmer.  Zuckerberg agreed to help with that project if Ceglia also agreed to help fund something Mark was working on, which at the time he referred to as, “The Facebook.”
After a year of developing both projects, Mark finally got Facebook up and running in 2004.  One of the last emails he supposedly sent to Ceglia explains that the site is not doing well, people are not interested and he will not have time to work on running it so he would send back the $2,000 initial investment paid by Ceglia.  That was obviously not the case since we all know Facebook blew up as soon as it was launched.
For all you lawyers out there in internetland here is the official document compliments of WSJ Online.  It includes all of the alleged emails between both parties, and was entertaining even for me to read the entire thing.  Ok, maybe not the whole thing, but the stuff that matters.  If everything included in the documents holds up to be true this is obviously a big deal.  The biggest issue is of course determining whether or not the material is authentic.  Ceglia already has one guilty fraud case under his belt which certainly does not work in his favor, and it is a bit strange as to why he waited so long to place these charges.  However, with the law firm he hired is no joke and certainly would have been able to spot something fake prior to agreeing to represent him.  This one will be a doozy to watch pan out. 

Posted on April 13, 2011, in News. Bookmark the permalink. Leave a comment.

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