DLA Piper, the World's Tightest LawfirmTM, has become embroiled in a massive claim for ownership of Facebook.
Paul Ceglia's claim that he owns 50% of the company (estimated value: $40+ billion) is based on a fascinating series of emails. He maintains that he hired Zuckerberg in 2003 to create a couple of websites. As part of the contractual wrangling, Ceglia was to receive 50% of "the Face Book", plus another 1% ownership for every day the site remained unfinished after its planned launch date. The emails produced by Ceglia make interesting reading and purport to show that by February 2004, he was owed 84% of the company.
Ceglia started proceedings last year (a mere seven years after the event), but - after some initial green ink tussling using a small firm - has now been taken under the wing of DLA partner Robert Brownlie. Who, despite initial scepticism, states that "DLA would not have gotten [sic] involved if we had any doubts about the facts or evidence in the case".
Ceglia himself has an interesting history, which has included an alleged fraud regarding a previous business venture and a conviction for possession of magic mushrooms. Gibson Dunn, acting for Facebook, said this was "a fraudulent lawsuit brought by a convicted felon". And, feeling they may not have made their point clearly enough, added that these were the "ridiculous" claims of a "scam artist".
Bottom line: someone's going to be embarrassed.
Tip Off ROF
Paul Ceglia's claim that he owns 50% of the company (estimated value: $40+ billion) is based on a fascinating series of emails. He maintains that he hired Zuckerberg in 2003 to create a couple of websites. As part of the contractual wrangling, Ceglia was to receive 50% of "the Face Book", plus another 1% ownership for every day the site remained unfinished after its planned launch date. The emails produced by Ceglia make interesting reading and purport to show that by February 2004, he was owed 84% of the company.
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A fishing expedition yesterday |
Ceglia started proceedings last year (a mere seven years after the event), but - after some initial green ink tussling using a small firm - has now been taken under the wing of DLA partner Robert Brownlie. Who, despite initial scepticism, states that "DLA would not have gotten [sic] involved if we had any doubts about the facts or evidence in the case".
Ceglia himself has an interesting history, which has included an alleged fraud regarding a previous business venture and a conviction for possession of magic mushrooms. Gibson Dunn, acting for Facebook, said this was "a fraudulent lawsuit brought by a convicted felon". And, feeling they may not have made their point clearly enough, added that these were the "ridiculous" claims of a "scam artist".
Bottom line: someone's going to be embarrassed.