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VIRTUALISATION Law firm discloses value of Facebook-ConnectU settlement
VIRTUALISATION Law firm discloses value of Facebook-ConnectU settlement | Law firm discloses value of Facebook-ConnectU settlement |
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| by Stephen Withers | |
| Thursday, 12 February 2009 | |
  
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The matter was settled last year, with the terms supposed to remain secret. According to an article written by Zusha Elinson for The Recorder, Quinn Emanuel - the law firm representing ConnectU - trumpeted a $US65 million settlement in its January newsletter. Ironically, ConnectU dumped Quinn Emanuel and a dispute over fees is in arbitration. Quinn Emanuel is reportedly seeking $US13 million. Since the much of the settlement was apparently in the form of Facebook stock, the ConnectU founders are most likely worse off than they were at the time they agreed to the deal. |
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