Facebook lawyer: Zuckerberg may have given Facebook ownership stake

facebookIn federal court hearing on Tuesday, Facebook lawyer Lisa Simpson told US District Judge in Buffalo, New York, that Facebook founder Mark Zuckerberg may have signed a seven-year contract with New York businessman Paul Ceglia, granting him an ownership stake in what was then a fledging Web project.

According to a Bloomberg report, Simpson told the judge: “Whether he (Zuckerberg) signed this piece of paper, we’re unsure at this moment.”

Ceglia filed a lawsuit against Facebook last month, claiming that he had signed a contract with Zuckerberg in 2003. As per Ceglia, Zuckerberg was a Harvard student at that time, and was working on an early version of Facebook.

The lawsuit further says that Ceglia, for whom Zuckerberg was working, paid Zuckerberg $1,000 for “half-interest” in the company; and waited for until 2010 – that is, seven years later - to file his lawsuit.

As per Ceglia, Zuckerberg was hired by his company in 2003 to work on two separate business ventures – first, to develop and maintain a Web database for “the StreetFax Database;” and, second, to work on an already-in-progress project, “designed to offer the students of Harvard university access to a website similar to a live functioning yearbook with the working title of ‘The Face Book’.”

Meanwhile, going by a post-hearing statement released by Facebook on its website, the lawsuit filed by Ceglia is “completely frivolous,” and the social network intends fighting it “vigorously.”