A court has turned down an appeal made by the Winklevoss twins to reopen its lawsuit against Facebook founder Mark Zuckerberg.
The Winklevoss twins, after receiving $65 million in a settlement, have repeatedly claimed that Facebook misrepresented the value of the company, causing them to settle for less. They claim that they are entitled to more than the original $65 million.
In April, a three-judge panel decided to uphold the $65 million settlement awarded to the twins and did not allow a new case to begin.
Now, the 9th US Circuit Court of Appeals in San Francisco has again denied the twins the opportunity reappeal the verdict, which was announced in 2008, and upholded the original settlement. The Winklevoss twins had asked for a panel of 11 judges to review the settlement.
Meanwhile, Jerome Falk, the lawyer representing the twins, said that they plan to file an appeal with the Supreme Court.
“Settlements should be based on honest dealing, and courts have wisely refused to enforce a settlement obtained by fraudulent means. The court’s decision shut the courthouse door to a solid claim that Facebook obtained this settlement by committing securities fraud,” said Falk, The Wrap reports.
“Our petition to the Supreme Court will ask the high court to decide whether that door should be reopened.”