Facebook finally settles with the Harvard trio

It seems that Facebook had finally settled with its founder’s friends at Harvard, who accused Mark Zuckerberg of copying their ideas when creating the social network site. A preliminary agreement was reached in February, but the final one had to wait until now because the claimants (plaintiffs in the other side of the Atlantic) claimed that the agreement was not complete and that Facebook had committed fraud (this is what I call friendship) by not disclosing information related to Zuckerberg’s stocks. However, the Judge for the Northern District of California dismissed the later claims and rules that the February agreement was valid and summoned the parties to a hearing on July 2 to implement it.
The original suit was brought by the Winklevoss brothers and Divya Narendra, who accused Zuckenberg of stealing the ideas after being hired by the trio to write some code for a site called Harvard Connection. In the agreement Facebook seems to buy Harvard Connection, in a price combining cash and stock but the financial terms have not been published.

Now that this part of the legal issues is over, it is to be seen if Facebook can use the time to try to find a viable business model…