Facebook CEO Faces Accusations Of Securities Fraud

[Tuvok Obama]

http://www.huffingtonpost.com/2010/05/20/facebook-ceo-faces-accusa_n_583013.html

It's been a rough couple of weeks for Facebook CEO and co-founder Mark Zuckerberg.

Facebook's new privacy policies have sparked a user backlash, with over ten thousand users organizing a coordinated exodus from the site on Quit Facebook Day.

But that's not the only thing troubling the 26-year-old social media tycoon. Zuckerberg is now facing allegations of securities fraud regarding the out-of-court settlement Facebook made with a rival company whose owners claim Zuckerberg stole their source code.

These allegations have followed Zuckerberg since his Harvard days, when he was hired by a student-run dating website called Harvard Connection (now called ConnectU), which at the time was similar to Zuckerberg's startup TheFacebook. Tyler and Cameron Winklevoss, the creators of ConnectU, brought suit against Facebook in 2003. They settled for a reported $65 million in 2008 and turned ConnectU over to Facebook.

(more at link)

[Initech]

1. Does it defeat the purpose if people are using Facebook to organize a quit Facebook day?

[Tuvok Obama]

2. The 'Quit Facebook Day' site is its own domain (completely unaffiliated with Facebook's servers)

'Quit Facebook Day' is located at www.quitfacebookday.com