Reuters recently reported that the infamous Harvard twins, Cameron and Tyler Winklevoss, best known for claiming to have come up with the idea for Facebook, have lost a $13 million appeal for attorneys’ fees. The twins sued Quinn Emanuel Urquhart & Sullivan, the law firm they used in their original lawsuit against Facebook founder Mark Zuckerburg, claiming malpractice.
The initial lawsuit, also the subject of the film “The Social Network,” resulted in a $65 million intellectual-property settlement to the Winklevoss twins as well as a $13 million contingency fee award to Quinn Emmanuel. After they accused their firm of malpractice, an arbitration panel decided that the twins that they still had to pay the attorneys’ fees. The litigious duo appealed the arbitration decision to a New York Supreme Court judge who also confirmed the fee.
During their bid for an appeal to New York’s Appellate Division, First Department, the twins alleged that not only did the firm miscalculate the value of Facebook stock, but they also breached a confidentiality agreement by disclosing the amount of the settlement in marketing materials. The appeals panel dismissed the case brought by the Winklevoss’, refusing to hear anymore arguments as to why they should not have to pay the $13 million due to Quinn Emanuel. The decision informed the twins that they have received “due deliberation” on the matter.
