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Court: Winklevosses must accept Facebook deal

Tyler Winkelvoss, left, and his identical twin brother Cameron. (Don Bartletti/Los Angeles Times)

Cameron and Tyler Winklevoss cannot back out of a settlement with giant social networking firm Facebook over claims that Chief Executive Mark Zuckerberg stole their idea, a U.S. appeals court ruled Monday.

The saga of the Winklevoss twins and Zuckerberg became silver screen lore with the release of the film “The Social Network” last year. It has long been a legal battle as well. Get the full story »

Facebook exec fired for stock acquisition

Facebook Inc. fired a senior manager for buying shares of the social networking powerhouse in a private, secondary-market transaction last September — four months before Goldman Sachs Group Inc.  announced its investment in Facebook, the Web site TechCrunch reported Friday, citing multiple sources. Get the full story »

Google mimics Facebook with ‘1′ button

In Google’s latest attempt to become relevant in the social networking space, the search giant on Wednesday unveiled a new tool — a “1″ button akin to Facebook’s “Like” button — that allows people to share helpful search links with their friends. Get the full story »

Gap site lets customers name their price

Gap began promoting the site GapMyPrice.com on its Facebook page this month, with its first offer that allowed customers to name their price for a pair of men’s khakis, reports Advertising Age. Get the full story »

FINRA warns of Facebook share scams

The wild popularity of Facebook and other social media sites has spawned a cottage industry of con artists promising average investors a chance to cash in on the frenzy through shares in the companies before their initial public offerings.

While the pre-IPO offerings may be real, investors must be aware that the people touting them may be frauds, the U.S. Financial Industry Regulatory Authority (FINRA) said Tuesday. Get the full story »

Facebook hires Google exec to boost M&A

Facebook has hired a member of Google Inc.’s corporate development team to lead its fledgling merger and acquisition efforts.

Amin Zoufonoun, a director of corporate development at Google, will join the world’s No.1 Internet social network company next week, Facebook confirmed Monday. Get the full story »

Fla. judge says debt collector can’t use Facebook

A Florida judge has ordered a debt collection agency to not use Facebook — or any other social media site — in an attempt to locate a woman for a $362 unpaid car loan.

Judge W. Douglas Baird also ordered Mark One Financial LLC of Jacksonville, Fla., to not contact the woman’s family or friends on Facebook. Get the full story »

Cash-raising efforts value Zynga at $7B-$9B

Zynga, the company behind popular Facebook games such as FarmVille and CityVille, is in talks with potential investors to raise about $250 million, which would value the startup at $7 billion to $9 billion, according to a published report.

The Wall Street Journal, citing unnamed sources familiar with the matter, said in a report Monday that a decision to raise money could be weeks away if it happens. Get the full story »

Latest share plan values Facebook at $60B

Facebook is considering letting its employees sell up to $1 billion of their shares to institutional investors, at a price valuing the company at about $60 billion, an influential industry blog reported. Get the full story »

Facebook, Google start wooing Twitter

As Internet valuations climb and bankers and would-be buyers circle Silicon Valley in an increasingly frothy tech market, many eyes are on one particularly desirable, if still enigmatic, target: Twitter.

Executives at both Facebook Inc. and Google Inc., among other companies, have held low-level talks with those at Twitter Inc. in recent months to explore the prospect of an acquisition of the Web-based messaging service, according to people familiar with the matter. The talks have so far gone nowhere, these people say. Get the full story »

Facebook opens Hong Kong office

Facebook Inc. opened an office in Hong Kong Tuesday as part of its plan to expand operations in Asia, the South China Morning Post reported Wednesday, citing the company’s executives.

The move came after Facebook opened offices in India in March and  Singapore in April, the newspaper reported. Get the full story »

Free Facebook access on flights in February

From PC Magazine | This month, a cross-country flight won’t be a reason to temporarily suspend a poke war. Seven airlines will offer free access to Facebook via their Wi-Fi networks for the month of February.

The no-cost service will be available through a partnership between Gogo Inflight Internet and Ford, and will be offered on North American flights of Virgin America, AirTran, US Airways, American Airlines, Delta, United Airlines, and Alaska Airlines, Gogo said in a blog post. Get the full story>>

Facebook expands its Groupon-like service

From The New York Times DealBook | Facebook is introducing its discount shopping service to five European countries and Canada as part of its push to help brands communicate with its users.

No Facebook phone on the way, company says

Facebook has no plans to launch Facebook-branded phones with Taiwanese smartphone maker HTC, it said on Thursday, following reports that it planned to launch an official tie-up next month. Get the full story »

Zuckerberg’s Facebook page hacked

Facebook founder Mark Zuckerberg’s fan page was hacked Tuesday — a high-profile breach on a site that constantly faces scrutiny about its handling of its members’ private data.

The message that appeared on Zuckerberg’s page under his name read: “Let the hacking begin: If Facebook needs money, instead of going to the banks, why doesn’t Facebook let its users invest in Facebook in a social way? Why not transform Facebook into a ’social business’ the way Nobel Price winner Muhammad Yunus described it? http://bit.ly/fs6rT3 What do you think? #hackercup2011″ Get the full story »