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Man Claims Ownership of Facebook

countertrolling (1585477) writes | more than 3 years ago

News 1

countertrolling (1585477) writes ""A New York judge has issued a temporary restraining order restricting the transfer of Facebook Inc.'s assets, following a suit by a New York man who claims to own an 84% stake in the social-networking company.

Paul D. Ceglia filed a suit in the Supreme Court of New York's Allegany County on June 30, claiming that a 2003 contract he signed with Facebook founder and Chief Executive Mark Zuckerberg entitles him to ownership of the company and monetary damages...

In his suit, Mr. Ceglia claims he signed a contract with Mr. Zuckerberg on April 28, 2003, to develop and design a website, paying a $1,000 fee but getting a 50% stake in the product. The contract stipulated that Mr. Ceglia would get an additional 1% interest in the business for every day after Jan. 1, 2004, until it was completed...

A copy of the contract seen by The Wall Street Journal says it is "for the purchase and design of a suitable website for the project Seller [Mr. Zuckerberg] has already initiated that is designed to offer the students of Harvard university [sic] access to a wesite [sic] similar to a live functioning yearbook with the working title of 'The Face Book.'"

The date of the contract appears to conflict with previous accounts of the creation of Facebook. Mr. Zuckerberg built a predecessor to Facebook called Facemash in October and November 2003, but Mr. Zuckerberg didn't register the domain thefacebook.com until January 2004...

  Victor P. Goldberg, who teaches contracts at Columbia University's Law School, said the Facebook contract lawsuit may get tripped up by the statute of limitations, which is six years in New York.

He also said the contract itself was unusual, because it doesn't stipulate what else Mr. Zuckerberg would have gotten from Mr. Ceglia aside from $1,000."

Evidently this Ceglia is an interesting character

"In 2009, New York's Attorney General Andrew M. Cuomo accused Mr. Ceglia of defrauding customers of his wood-pellet fuel company, according to a news release from the Attorney General's office.

The state claimed that he took more than $200,000 from consumers and then failed to deliver any products or refunds.""

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