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Dating Web site ConnectU won't get more money out of Facebook after the two settled a dispute earlier this year.
ConnectU, founded by brothers Cameron and Tyler Winklevoss, used to employ Facebook founder Mark Zuckerberg around 2003. The site was then called Harvard Connection.
ConnectU alleged a slew of indiscretions, including copyright infringement, after Zuckerberg established Facebook in 2004, which far eclipsed ConnectU in popularity.
The two reached an agreement in February, but ConnectU changed its mind and asked a judge to annul the agreement. The actual financial terms of the deal are sealed, but ConnectU received cash and Facebook stock as part of the settlement.
After making the agreement, ConnectU came back and alleged that Facebook committed fraud during the negotiations by misrepresenting the value of its stock. Facebook asked the court to enforce the agreement.
On Wednesday, Judge James Ware of US District Court for the Northern District of California brushed aside ConnectU's allegation, saying the two companies' agreement did not stipulate a value on the outstanding shares of Facebook's stock. Further, ConnectU had "reputable counsel" when the agreement was reached, Ware wrote in his ruling.
"In sum, the court find defendants [ConnectU] have failed to establish that plaintiffs [Facebook] made a misrepresentation during the negotiation," Ware wrote.
Facebook intimated there was another reason for ConnectU's change of mind. "We were disappointed that we had to litigate the settlement, as we believed we were caught in the middle of a fee dispute between ConnectU's founders and its former counsel," Facebook said in a statement.
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Computerworld Live Podcast #97: The Future of Enterprise Networking 25/07/2008 09:45:36
This week CW Live chats with Mark Thompson, global sales and marketing manager for HP ProCurve, on the future of the enterprise networking. Mark discusses the trends we can expect to see in the near future and how the right infrastructure can ensure your enterprise network is secure. - +
Computerworld Live Podcast #96: Security at the Edge 11/06/2008 09:22:22
CW Live speaks with Amol Mitra, HP ProCurve Director of Marketing for Asia Pacific and Japan. Today's topic: how enterprises are starting to shift away from simply controlling security via server logins, firewalls and moving to more adaptive security frameworks. - +
Data Management Edition #10: Multi-Petascale Systems 02/05/2008 09:12:33
This week we look at sustainability and the development of multicore technologies to build multi-petascale systems. - +
IT Security Edition #11: How to poison the Storm botnet 01/05/2008 08:51:55
This week CW Live presents a case study on how to poison the notorious Storm botnet . Plus we take a look at Cisco's plans for Ironport. - +
IT Security Edition #10: Cyber-battles fought and won 24/04/2008 11:09:47
Vendors bow to end user pressure to improve product security, and we take a look at the latest concepts shaping the cyber-battlefield of the future.
F-Secure achieves excellent results in Internet security suite comparison 2008-10-10 14:37:00+10
M2M Connectivity announces the new Sierra Wireless MC8792V embedded module for 900 MHz 3G/HSPA networks 2008-10-10 08:51:00+10
Pitney Bowes MapInfo Launches New Version of AnySite 2008-10-10 05:58:00+10
IOGEAR Gears Up in Australia 2008-10-09 20:18:00+10
Internet Service Providers offer new unlimited Online Backup from F-Secure 2008-10-09 19:42:00+10
Why Security SaaS Makes Sense Today
Corporate IT teams are waging a significant security battle on two fronts these days: stopping attacks via the Web and through email. Security SaaS can solves these problems and more. Read on to discover 7 reasons why security SaaS makes sense for your business.










