Wednesday, 16 March 2016

Facebook's Zuckerberg settles real estate lawsuit for no payout

SAN FRANCISCO: Mark Zuckerberg has agreed to settle a lawsuit and pay no money to a real estate developer who sued him in a dispute over property near the Facebook Inc chief executive's home in Silicon Valley, his lawyer said on Tuesday.

Developer Mircea Voskerician sued Zuckerberg in 2014, contending the CEO agreed to purchase his rights to a parcel adjacent to Zuckerberg's Palo Alto, California property.

As part of the deal, Voskerician claimed Zuckerberg agreed to introduce Voskerician to friends who could promote his real estate business, but failed to do so.

Zuckerberg fought the lawsuit, arguing in court documents that Voskerician threatened to build a large mansion on the parcel and demanded to be paid millions of dollars in exchange for "privacy consideration."


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