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April 12, 2011 02:17 am GMT

Winklevosses To Challenge Today's Facebook Ruling

Earlier today a panel of Federal Appeals judges ruled that the Winklevoss twins had to accept a ruling that had them make due with a meager $65 million in settlement. But apparently the case is not closed, as the Winklevosses will be filing for a rehearing with the entire 9th Circuit Court of Appeals bench.Jerome B. Falk, Jr., of Howard Rice in San Francisco, lead appellate counsel for Cameron Winklevoss, Tyler Winklevoss and Divya Narendra gave me the following in a statement:
"The Ninth Circuit has affirmed the District Court's enforcement of the settlement over my clients' objection on the ground that the settlement was obtained in violation of the federal securities laws. I appreciate the Ninth Circuit's thorough discussion of the issues.

Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/JAKcXQzuCFw/

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