Facebook's assets frozen in ownership lawsuit
Posted in: Legal, Privacy & Security at 13/07/2010 16:29
Facebook has rejected as "frivolous" a lawsuit filed by a New York man who claims he owns an 84 per cent stake in the social network.
A temporary restraining order restricting the transfer of the company's assets was issued by a Supreme Court judge in New York's Allegany County.
Facebook says the order will have no impact on its business.
Man Claims Ownership of Facebook
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.
Facebook fights New Yorker's claim of 84 percent stake
Facebook has moved to overturn a New York judge's recent order temporarily blocking any transfer of the company's assets, as the world's No.1 social networking responds to a lawsuit by a New Yorker claiming to own 84 percent of the company.
In a civil lawsuit filed in the Supreme Court of New York's Allegany County last month, Paul Ceglia said he signed a contract with Facebook co-founder Mark Zuckerberg in 2003 to develop and design a website.