engine - 5:36 pm on Jul 21, 2010 (gmt 0)
Uncertainty Over Contract Of NY Man Claiming He Owns 84pct Of Facebook [news.cnet.com]
An attorney for Facebook told a federal judge Tuesday that she was "unsure" whether company founder Mark Zuckerberg had signed a contract with a New York man who claims to own 84 percent of the social network.
Paul D. Ceglia of Wellsville, N.Y., claimed in a lawsuit filed in June that he entered into a contract with Zuckerberg in 2003 to design and develop a Web site for $1,000. The contract entitled Ceglia to a 50 percent stake in the final product, which eventually launched as TheFacebook.com, according to his lawsuit, which was filed in New York state court. The suit also claims Zuckerberg agreed to give Ceglia an additional 1 percent stake per day until the Web site was completed, giving Ceglia an 84 percent stake in the company as of February 4, 2004.
That piece of paper is worth a lot of money. It's like the lost winning lottery tickets.