A special master handling the settlement in the Facebook-ConnectU case revealed in a court filing that the testy relationship between ConnectU and its former lawyers at Quinn Emanuel has gotten even testier: The ConnectU founders have threatened to sue the firm for malpractice.
A quick refresher: ConnectU founders Tyler and Cameron Winklevoss sued Facebook founder and Harvard pal Mark Zuckerberg, accusing him of stealing their ideas to start his hotter-than-hot social networking site. After reaching a settlement earlier this year, ConnectU said it had been hoodwinked by Facebook about the value of the company’s stock and so got gypped out of big payout. The company tried to back out of the deal and fired its lawyers at Quinn Emanuel, the high-profile L.A. trial firm that advised on the settlement. Then Quinn filed a lien against any money ConnectU would recover from Facebook.
John Quinn |
San Jose Federal Judge James Ware ruled that the settlement should be enforced and appointed special master George Fisher to do the enforcing. In his report, Fisher writes that the “ConnectU shareholders have threatened a malpractice action against Quinn Emanuel” without explaining much more. Fisher also relates that there is currently an arbitration in New York State Supreme Court between the firm and ConnectU over the fee dispute.
Reached by email Friday evening, John Quinn, head honcho at Quinn Emanuel, wrote back: "I think they owe us $ and are trying to
create leverage by asserting spurious claims."
— Zusha Elinson
this lawsuit will not stand a chance, connectu should just accept reality
Posted by: christi | September 16, 2008 at 07:12 AM