BY: KELSEY WAANANEN
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Just as Facebook closes one legal chapter, another one opens. Or re-opens, really.
Paul Ceglia, the same man who sued Mark Zuckerberg last year, is re-filing his claim that he should own 50% of the social network.
But this time, he’s attacking the Facebook creator armed with a bigger law firm and over a dozen emails which detail the alleged contract they struck as well as their falling out once “The Face Book” really took off.
Facebook representatives say Ceglia’s claim is ‘ridiculous’... but what happens if it isn’t? CNN’s American Morning says Facebook could seriously lose out.
“...it’s going to be very curious to see if these emails are, in fact, true because if they are, Zuckerberg could end up owing this guy hundreds of millions to billions of dollars.”
After reviewing the emails, Business Insider says they might be real: there’s no way such Ceglia - or his well-known representation -- would take such obvious risks on a farce.
“We think that, if the emails and contract Ceglia produced are indeed fake, the fraud should be easy to expose (so easy, in fact, that we imagine DLA Piper's investigators would already have exposed it-- … ). We also think that, if the emails are fake, Paul Ceglia will be going to jail for a long, long time--a consequence that we assume was not lost on him.”
And if they are real - there’s still no threat of removing the face of Facebook. The Atlantic Wire says the issue can be settled in court.
“The reality of Zuckerberg losing half his stake in the company is slim even if the emails were real. Most observers agree that Facebook would push a settlement long before that happened. But still, such a settlement would have major consequences.”
If the emails are fake-- Facebook goes unscathed. But PaidContent explains - the company taking on Ceglia’s case - DLA Piper- would feel the burn.
“Other tech companies might be reluctant to hire a law firm that associated itself with a fraudulent attack against one of their own.”
According to Business Insider, Facebook’s next move will be to dismiss the case, and Ceglia will try to oppose the dismissal. To take a look at a summary of the emails, check out the Wall Street Journal blog link in the transcript. (SOC)
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Transcript by Newsy
When Facebook goes public later this week, it's expected to be the tech world's biggest and highest-dollar debut ever. But a splashy entrance into the stock market doesn't always guarantee future financial success. CNET's Kara Tsuboi takes a look back at other tech giants, their IPOs, and how they're faring now.