An appellate court in New York has refused to hear further arguments why Cameron and Tyler Winklevoss should not have to hand over $13 million to the law firm which helped them draft a settlement agreement with Facebook.
The twins famously claimed to have come up with the idea that became Mark Zuckerberg’s inspiration for Facebook, which led to a lawsuit, which led to a $65 million settlement, which led to the Oscar-winning film, The Social Network.
The twins went after the law firm of Quinn Emanuel Urquhart & Sullivan, which represented them in the first case portrayed in The Social Network. The lawyers at the firm were accused of malpractice for their role in the affair, including by violating confidentiality by revealing the $65 million settlement figure in marketing literature.
An arbitration panel told the twins they had to pay the law firm a $13 million contingency fee nonetheless.
The decision was appealed to a New York Supreme Court judge, who confirmed the fee.