Reporting from San Francisco — Cameron and Tyler Winklevoss have decided to abandon an appeal to the U.S. Supreme Court over their Facebook Inc. lawsuit.
In a federal court filing Wednesday in San Francisco, the Winklevosses said they had decided not to seek review of the 9th Circuit Court of Appeals ruling that upheld the $65-million cash-and-stock settlement they reached in 2008 with Facebook.
The Winklevosses have been trying for years to undo the settlement, contending that Facebook duped them about the value of the shares they received. They persisted in their efforts even as the value of the settlement soared to more than $200 million along with the valuation of Facebook, one of Silicon Valley's hottest companies.
But the courts dealt the Winklevosses a series of legal setbacks, the latest in May when the 9th Circuit declined to review its decision. At the time, the twins pledged they would appeal to the U.S. Supreme Court. Legal observers had predicted that the appeal would be a long shot.