Facebook Assets Frozen Following Ownership Dispute

By Peter Chubb - Jul 14, 2010

Yesterday we reported on the ownership dispute of social networking site Facebook – we can now tell you that a judge has frozen the company’s assets. This means that there can be no transferring or selling of assets – all of which was sparked off by a man called Paul Ceglia.

We already know the history on this ownership dispute – but how much truth is there in it? Paul Ceglia claims that he own 84 percent of Facebook, a deal that he had in place with Facebook founder Mark Zuckerberg while the social media website was being built.

Facebook has now responded to this latest action by taking the case to Buffalo’s federal district court – asking them if the restraining order can be lifted and saying that the case is “completely frivolous.” The company also states that Ceglia’s claims should be barred as it has a number of limitations, which Chicago Breaking Business explains in more detail.

We do not see this case going any further – although it could backfire on Paul Ceglia and his wife, who already has a past in cases like this.

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