Facebook pushes on with ConnectU acquisition
Details of the verdict issued by a Californian judge who ended a 4-year wrangle for Facebook have now been published.
Judge James Ware of the US district court in San Jose forced the legal battle into a settlement in June, ending an argument between the founders of a social networking website called ConnectU who insisted that their onetime Harvard pal, Mark Zuckerberg, ripped off their idea with his Facebook site.
The lawsuit was settled but ConnectU came back and appealed claiming that Facebook had misrepresented its value.
However, Judge Ware determined that the settlement, which involves Facebook buying ConnectU, should go ahead anyway.
His verdict reads: "The longer the court delays in enforcing the settlement between the parties, the more like the value of the consideration subject of the settlement will change".
"Any further delay in enforcing the settlement will create a serious risk of prejudice to Facebook, as well as to ConnectU."
He added: "This means the status quo cannot be preserved with a stay".
In an aside - ConnectU co-founders Cameron and Tyler Winklevoss are competing for rowing gold in the Beijing Olympics.