Mark Zuckerberg set up the entire structure of the company so he wouldn’t be forced to make dumb short-term decisions by whining public-market shareholders. And he TOLD them that he wasn’t going to make those decisions. They just didn’t listen.
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The parallels between Microsoft and Facebook have always been strong. Founded by college dropouts from Harvard, Bill Gates and Mark Zuckerberg, the two have overcome vicious competition to create some of the world’s most influential technology companies and ubiquitous products. And though times have changed for the nearly four-decades-old Microsoft, never have the connections been stronger between it and Facebook.
The lawsuit against Facebook was filed in 2004, and a settlement agreement for both cases was reached in February, 2008, valued at $65 million. In May 2010, it was reported that ConnectU was accusing Facebook of securities fraud on the value of the stock that was part of the settlement, alleging the stock was worth $11 million instead of $45 million that the social networking giant had proclaimed.
The Winklevoss twins and Darendra then moved to get the settlement undone.
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