HTTP:: Facebook and StudiVZ Settle Lawsuit
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Facebook and StudiVZ, its German “counterpart,†have reached an agreement in the intellectual-property lawsuit filed by the American social network last year. StudiVZ will pay an undisclosed sum to Facebook and both companies will cease any further legal action in any of the two countries. The two social networks will operate normally in Germany, but have agreed not to disclose any further details about the settlement. The legal fight started last summer when the Palo Alto company filed a lawsuit in its native California against the German social network claiming it was running a “knock-off†of its site, which duplicated its “look, feel, features and services.†While the claim wasn't exactly without merit, there was more to the lawsuit than met the eye in the first place. It turned out that Facebook might have actually tried to acquire its German twin, but failed to meet Holtzbrinck's, the company that owns StudiVz, financial requirements. Holtzbrinck bought the!
German social network in 2007 for 85 million Euros, or around $134 million, but reportedly wanted several times that amount from Facebook. StudiVZ is the biggest social network in Germany, with around 13 million users in the country where Facebook is doing less spectacular than in the rest of...
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http://news.softpedia.com/news/Facebook-and-StudiVZ-Settle-Lawsuit-121389.shtml
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