Anyone who lives outside Silicon Valley likely knows the Winklevoss twins in relation to Mark Zuckerberg. They were the two rich boys fleeced by Zuckerberg for the inception of Facebook and claimed that Zuck had stolen the idea from them. They sued and were eventually awarded $65 million and Rashida Jones forgave Jesse Eisenberg in The Social Network so pretty sure we’re all squared away on that front.
But the Winklevoss twins now find themselves on the opposite side of possibly shady business dealings. Page Six reports Winklevoss Capital is being sued for allegedly backing out of buying an investor’s stock for the marijuana delivery app Eaze. The service called “Uber for weed” is a medical marijuana delivery service received the highest funding for a cannabis startup last year.
The lawsuit filed in a Delaware court by investor Todd Steinberg alleges the Winklevoss twins had signed a contract to buy the shares. Steinberg was an early investor in Eaze, buying shares back in 2014, and was looking to sell. Winklevoss Capital had agreed to buy $465,000 worth of shares and even had a term sheet in place.
However when Eaze announced a new CEO late last year, the twins backed out of the deal. Steinberg claims he hasn’t been able to find a new buyer for the shares in their replacement. Winklevoss Capital has invested in Caviar, Paddle8, and MiniBar, while also in place to reap huge rewards for being early investors in Bitcoin. Winklevoss Captial had also invested in Eaze during its $13 million “Series B” financing back in 2016.
Just because you are rich and famous doesn’t mean you can default,” Steinberg told Page Six. “It’s the difference between right and wrong.”
He also added, “I have never been sued, and, until now, I have never been forced to sue anyone . . . I believe in honoring my commitments. Unfortunately, I have had the opposite experience with Cameron and Tyler Winklevoss . . . I believe it is time that somebody stands up to them.”
