A man called Paul D Cegalia of Wellsville has filed a legal case against Facebook, and not only that, has also demanded monetary damages. A claim filed in the New York Supreme Court says that Facebook founder Mark Zuckerberg owed this Paul D Cegalia 84% of Facebook as per a contract!
As per the terms of the contract as claimed by Cegalia, Zuckerberg had agreed to pay him $1,000 and give him a 50% stake in the website they developed. Zuckerberg had allegedly agreed to pay an additional 1 percent stake per day until the website was completed. This amounted to a staggering 84 percent stake in the company as of February 4, 2004.
Following this case, Facebook has landed in some fresh trouble. Judge Thomas Brown has issued a prohibitive order on the transferring of Facebook’s assets.
Facebook, meanwhile reacted strongly to the news. "We believe that this suit is completely frivolous and we will fight it vigorously", reacted the official spokesperson for Facebook. The social networking giant wants the case to be moved to federal court.
This however is not a new kind of a story. Many a company’s rise has been associated with false and frivolous cases claiming some sort of share in it. And especially when it is a formerly small concern that has made it big , like Facebook.
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