Facebook And Mark Zuckerberg Sued For 84% Ownership

Facebook seems to always be surrounded by controversy, but most of the time, it has to do with privacy settings and safeguarding the private information of Facebook users. This time around though, the social networking site is facing a new legal hurdle, one brought on by Paul Ceglia.

Ceglia has filed a lawsuit against both Facebook and Mark Zuckerberg for control of 84% of the company and the judge presiding over the lawsuit has frozen the assets of the social site until the issue can be resolved. Ceglia asserts that he has a 2003 signed contract to design and develop a website for Zuckerberg. This website was called thefacebook.com which over time became Facebook.

According to the contract, Ceglia was to receive a $1000 upfront fee and a 50% stake in the domain. In addition to this, Ceglia was to “acquire an additional 1 percent interest in the business, per day, until the website was completed.” This turns out to be an extra 34% making his share in the company 84%.

For their part, Facebook has said that the lawsuit is without merit.

Via: DT

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