Facebook CEO Sniffs at Ownership Lawsuit

Posted on Jul 26, 2010

Flickr / Deneyterrio

Facebook honcho Mark Zuckerberg, pictured, says he’s not threatened by Paul Ceglia’s suit.

Here’s some palace intrigue from the inner chambers of the Facebook empire that could threaten the whole enterprise: Facebook CEO Mark Zuckerberg is denying the legitimacy of a contract, allegedly signed in 2003, that would give an “upstate New York wood-pellet vendor,” as Business Insider puts it here, majority ownership of the social networking giant.  —KA

ABC News:

Facing a lawsuit from a New York man who says he’s owed a majority stake in the $25 billion dollar company, Facebook now says it suspects that the contract at the heart of the suit is a forgery.

Paul Ceglia, the owner of a wood-pellet fuel company in rural Wellsville, N.Y., filed a complaint last month alleging that he signed a contract with Facebook founder and CEO Mark Zuckerberg in 2003 that entitles him to an 84 percent stake in the company.

But in an e-mail, the Palo Alto, Calif.-based Facebook said the ownership lawsuit is “absurd.”

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