Will Facebook Be Forced to Shutdown?

Facebook is under attack and it isn’t pretty. Mark Zuckerberg, the creator of Facebook, is being accused of stealing the source code and business plan of ConnectU, a social network with a similar strategy to Facebook. According to VentureBeat, “The plaintiffs have demanded that Facebook be shut down and that full control of the site – and its profits – be turned over to them.” The shocking part about this case is that it started 3 years ago. While it is nothing new, it has still been dragging on. Both sides have powerful legal teams and there are big stakes. Without having this case resolved, it is going to be extremely challenging for Facebook to file for an IPO. My guess is that there is going to have to be a pretty large settlement at the end of this that covers the costs of the plantiffs’ lawyers and compensation for stealing the concept.