Winklevoss Twins Drop Lawsuit Against Facebook

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Cameron and Tyler Winklevoss said they would accept a settlement that was worth $65 million when agreed upon in 2008. The twins had sought to undo the settlement of $20 million cash and $45 million in stock.

RENEE MONTAGNE, host:

Today's business news starts with some relief for Mark Zuckerberg.

(Soundbite of music)

MONTAGNE: Cameron and Tyler Winklevoss are dropping their legal battle against Facebook. The twins sued in 2008, claiming Zuckerberg stole the idea for Facebook while they were all students at Harvard University. The twins were awarded a settlement of $20 million in cash and $45 million of private Facebook stock. But they thought they deserved more. At the time, the social network was valued at $15 billion. Now it's at $70 billion. The Winklevoss lawyers aren't saying why the appeal has been dropped.

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