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Mark Zuckerberg's Harvard colleagues lose appeal in Facebook founder dispute

April 11, 2011 | 11:33 am

Mark Zuckerberg, right, smiles before speaking at a media event at Facebook headquarters on Thursday in Palo Alto.

The argument over the founding of Facebook, which became the subject of the Oscar-winning film "The Social Network," has been decided in federal appeals court.

An appeals panel ruled on Monday that the 2008 deal between Mark Zuckerberg and three former Harvard colleagues was valid.

The decision upheld a negotiated agreement between Zuckerberg and the founders of a rival social-networking site, ConnectU, settling the dispute over who came up with the Facebook idea by paying Divya Narendra and Olympic rowing twins Cameron and Tyler Winklevoss a share of Facebook's net worth, deemed to be about $65 million at the time of the settlement three years ago.

Read more: "Appeals court upholds Facebook deal from 2008"

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Photo: Facebook CEO Mark Zuckerberg, right, smiles before speaking at a media event at Facebook headquarters on Thursday in Palo Alto. Credit: Justin Sullivan / AFP/Getty Images

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