Today oral arguments begin in Cameron and Tyler Winklevoss’ appeal of their $65 million settlement with Facebook. Their suit alleges that the company engaged in securities fraud by awarding the twins less than what the company is worth.
The stakes seem higher than ever, now that the social network faces pressure to have an initial public offering as early as 2012. The potential upside from an IPO might make the current implied valuation of $50 billion seem modest by comparison, and that will doubtlessly keep the Winklevosses motivated in court. Even recent media coverage that has cast them in a poor light hasn’t stopped them from pursuing the appeal.
Do you think the Winklevosses have gone too far, or are they entitled to more money based on the current and future value of the company? Please cast your vote below, and by all means, share your rationale in the comments section.