$65 million: Law firm ad reveals what Facebook had to payout to ConnectU

Published by Charl Norman on Feb 12th, 2009, 1 Comment

The drawn saga of the legal battle between Facebook and ConnectU is well known by now. But what has been kept under the wraps till today is how much Facebook actually paid ConnectU to get their out of court settlement done.

However, we’re lucky. An over-enthusiastic ad given out by Quinn Emanuel Urquhart Oliver & Hedges, the law firm that represented ConnectU founders Cameron and Tyler Winklevoss in legal battle has spilled the beans on that out. Claiming pompously that it is their opponents who need a bailout, the ad talks about how Facebook had to pay ConnectU a whooping $65 million for an amicable settlement.

The legal hassle started when ConnectU claimed that Facebook founder Mark Zuckerberg stole their intellectual property and code to build his social networking site and while Facebook says that dishing out the money was not an admission of guilt, there are many who feel otherwise.

While the jury is still out on Zuckerberg’s guilt or lack of any, the astonishing fact is that both parties had tried very hard to keep the deal secret. While the details of the deal in regards to whether the sum was paid in cash or a mixture of cash and Facebook stock is still not known, the zealous ad could mean trouble for the law firm.

Seems like the fire has been rekindled! Isn’t it?

[via TechCrunch]
Image by LaughingSquid

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