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Facebook: We Have Proof Ceglia's Contract Is Fake 178

An anonymous reader writes "Facebook says it has found the proof that shows Paul Ceglia, a man that claims he owns half of the company over a 2003 contract, is a fraud. Facebook says it has found the original 'authentic contract' between Zuckerberg and Ceglia."
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Facebook: We Have Proof Ceglia's Contract Is Fake

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  • by UnknowingFool ( 672806 ) on Sunday August 07, 2011 @05:26PM (#37017078)

    Here's what I understand: Back in 2003, Celigia contracted Zuckerberg to code for his website which was not related to Facebook. Celigia and Zuckerberg do not dispute that they had a contract. Zuckerberg does not have a copy of this contract. Celigia says his version of the contract which he "found" last year says that he (Celigia) is entitled to 85% of Facebook because the clauses of the contract which say Celigia got a percentage of Facebook for every day Zuckerberg was late with his work. Zuckerberg was late completing his work.

    I found it suspicious that Celigia forgot for years that he owned a majority of Facebook. The other thing that is suspicious is the contract calls for Zuckerberg to surrender ownership of Facebook if he was late. Normally penalties are assessed in monetary values because Celigia is sacrificing hard cash for ownership of a company not related to his business nor guaranteed to bring in future money. It is also not clear whether Celigia knew about the existence of Facebook as it was much smaller back.

The IBM purchase of ROLM gives new meaning to the term "twisted pair". -- Howard Anderson, "Yankee Group"