50% of Facebook Subject to Lawsuit Claims

Facebook billionaire Mark Zuckerberg battles another claim to his social networking company shortly after winning against Cameron and Tyler Winklevoss in a $65M settlement. This time, Paul Ceglia claims that he is entitled to a 50% share of ownership of the now famous Facebook Company by virtue of a contract that he signed with Zuckerberg.

However, Ceglia’s claims were met at first with disbelief considering his background as a convict because of fraud. Ceglia, with a more prominent law firm as his counsel, this time has re-filed his suit claim with documents that includes volatile emails that could change the course of things when proven to be true.

It could also give the details of the business transactions or business relationship between Zuckerberg and Ceglia that has started from 2003 to 2004. The said emails were published through the Business Insider. Zuckerberg, who was still then a student at Harvard, was hired by Ceglia to start working on his ‘StreetFax.’ Facebook does not deny the Zuckerberg really did some computer programming job for Ceglia.

Ceglia further claims he was asked to make a small investment in Zuckerberg’s online project called ‘The Face Book’ of which a contract was signed. The contract allegedly contained provisions for a specific percentage of shares. The email seems to coincide with the events of the ‘Facebook’ story.

An interesting part that coincides with the chronological events in its story indicates Zuckerberg toying at the concept of charging just like other sites. Another is event was in trying to find the right domain name which ended him settling for ‘thefacebook.com.’

Other messages indicate portions of allegedly plans that include the site’s design and the business model to be used. The messages were cordial but as it progressed, the tone of the messages became terse and tense.

Ceglia also disclosed Zuckerberg’s allegedly worries about another Harvard group that planned to launch the same kind of social networking site though indirectly referring to the Winklevoss twins who later filed a lawsuit against Zuckerberg for allegedly stealing their ideas. The judge ruled for them to accept the settlement terms in lieu of an endless appeal for more payments.

The Facebook Company stands on its ground that the lawsuit claims are fraudulent and maintains that no such 50% share has been agreed upon. Though one email may give the details of the transactions, its veracity is still to be proven.