Winklevoss Twins Challenge $65 Million Facebook Settlement

Cameron and Tyler Winklevoss have petitioned a US court of appeals to throw out their 2008 $65 million settlement with Facebook, arguing that the sum misrepresents the actual value of the company.

The Winklevoss twins were paid the $65 million settlement as part of a previous lawsuit against founder Mark Zuckerberg, in which they claimed that Facebook was originally their idea.

The twins now claim that Facebook CEO Mark Zuckerberg and his lawyers had misrepresented the actual value of the company, and tricked them into accepting only $65 million.

They urged the 9th U.S. Circuit Court of Appeals to throw out the previous settlement, so allowing them to pursue further legal action against the company.

According to ABC News, the three-judge panel hearing the appeal seemed reluctant to re-open the case.

The judges argued that the brothers were well educated, and, at the time of the settlement, had an adequate legal team, so were more than capable of calculating the actual value of the company.

The panel is yet to announce a ruling on the matter.