FACEBOOK AGREES TO PRIVACY AUDITS FOR 20 YEARS TO SETTLE SUIT BY FTC

Facebook settled a privacy lawsuit with the Federal Trade Commission on Friday and agreed to submit to independent audits for the next 20 years. The FTC had accused the social network of being deceptive in its privacy practices, Reuters reported. ”Facebook’s innovation does not have to come at the expense of consumer privacy,” FTC Chairman Jon Leibowitz said. Facebook will create two positions dedicated to privacy, including a chief privacy officer.

In addition, Reuters said the social network must be transparent about what it does with personal user data in the future and it must receive user permission before changing how it shares private user data. Facebook CEO Mark Zuckerberg said he “is committed to making Facebook the leader in transparency and control around privacy.

FACEBOOK UNVEILS TIMELINE, COZIES UP TO NETFLIX AND SPOTIFY

During the F8 conference on Thursday, Facebook’s CEO Mark Zuckerberg took the stage to introduce a host of new features that are rolling out to the social network. The major change is called “Timeline” and it takes advantage of existing pictures and status updates to create a more visual experience of “who you are.” As you scroll down your personal timeline, you’ll be able to view pictures and updates throughout the years. There is a new option in the upper right-hand side of your profile to quickly skip to a year in time too, and many of the features are also available on Facebook’s mobile applications.

Timeline automatically hides information that Facebook doesn’t think is important, but if it is, you can easily switch it to show that content. In addition, users can click the Timeline and add photos to earlier points in time before Facebook existed, such as their childhoods. Apps can also populate the timeline.

Zuckerberg also stated that users can now listen to music, read news, and watch TV and movies right through Facebook. For some of the content, you can simply hover over your friends’ post that shows up in your news Ticker and instantly have access to that content. For example, if you see that a friend of yours is listening to REM via Spotify, you can simply click on their post and be instantly connected to the song they’re listening to and listen along with them. Then, you can open up your chat and talk with your friend about how sad you are that REM finally broke up.

FACEBOOK RELEASES ACTUAL CONTRACT IN CEGLIA LAWSUIT

On Friday, Facebook’s lawyers made news when they told a court hearing a lawsuit brought by the alleged initial investor in Facebook, Paul Ceglia, that they’d found the “smoking gun” proving the alleged investment contract was a fraud.

Facebook says they’ve found the “authentic contract” between Ceglia and Zuckerberg. Facebook is also charging that Ceglia, who they say is now living in Ireland, is holding back electronic storage devices he intentionally tried to hide from them.

Both parties agree that in 2003 Ceglia hired Zuckerberg, then a Harvard undergrad, to do work for his StreetFax company. But Ceglia filed suit in 2010, saying the contract also included $1,000 initial funding for Facebook, and that he’s entitled to more than half of the social networking giant.

Facebook argues the contract Ceglia produced electronically is a forgery and that Ceglia is a known con artist.

And now Facebook says that in the course of discovery — where Ceglia’s lawyers turned over to Facebook a number of computers and hard drives — that it has found the original “authentic contract” and proof that there are other “storage devices” that Ceglia is intentionally hiding from them in violation of a court order.

But the problem is Ceglia is claiming the “authentic contract” is shielded from use in the suit by designating them as “confidential” under the rules of an agreement between the two parties. Facebook is asking the federal judge overseeing the case in New York State to overrule that designation, in a detailed Friday filing where many of the documents were completely redacted due to the claims of confidentiality.

If indeed Facebook has a copy of the “authentic contract” and it does not include any investment in Facebook, the social networking giant could be close to finally putting aside the legal dramas over the site’s founding in 2004. Earlier this year, the Winkelvoss twins, who was made famous by the movie “The Social Network,” declined to ask the Supreme Court to let them re-litigate their settlement with Facebook over Zuckerberg’s alleged theft of their idea.

LEAK: FACEBOOK TO LAUNCH IN-BROWSER VIDEO CHAT ON SITE

According to an anonymous source interviewed by TechCrunch, Facebook is going to introduce video chat next week, and that service will be powered by none other than Skype. And while the service will be browser-based, it's also said to include a desktop component. We'd say none of that sounds too fantastical -- video calls would be a logical extension of Facebook chat, and let's not forget about the $240 million Microsoft invested in the site back in 2007. What's more, Facebook sent out invites for an event next week, where Mark Zuckerberg was clear the outfit would unveil a new product from its Seattle team. That's in Microsoft's backyard, of course, the invites themselves have chat icons on 'em, and, most tellingly, that Seattle office has been snapping up engineers specializing in desktop software.

FACEBOOK TO LAUNCH SOMETHING 'AWESOME' NEXT WEEK

Speaking to reporters on Thursday, Facebook’s CEO Mark Zuckerberg said that the social network has plans to “launch something awesome” next week. There’s no official word on what will be announced, but we suspect it’s going to be the new iPhone photo-sharing service that we saw just last week. The service — which looked amazing in the leaked screen shots — will likely compete with other applications such as Instagram and Path. Rumor has it that inside Facebook headquarters, the new photo sharing app has been dubbed either “WithPeople,” or “Hovertown.” It’s entirely possible that Zuckerberg will also take the wraps off of his company’s native Facebook iPad app, since it would likely fit well into the photo-sharing ecosystem. Lastly, it’s possible Facebook will detail the next steps it’s taking with its Facebook Places check-in service, too, but given Zuckerberg’s use of the word “launch,” we’re not so sure. It remains unclear what day the announcement will be made.

WINKLEVOSS TWINS GIVE UP APPEAL OF FACEBOOK RULING

Olympic rowing twins Cameron and Tyler Winklevoss have decided not to appeal to the Supreme Court a ruling upholding their $65 million settlement with Facebook Inc and its founder Mark Zuckerberg, signaling the possible end of the long-running dispute.

The 2008 accord was intended to resolve a feud over whether Zuckerberg stole the idea for what became the world's most popular social networking website from the Winklevosses, who like him had attended Harvard University. Their battle was dramatized in the 2010 film "The Social Network."

After agreeing to the cash-and-stock accord, the Winklevosses sought to undo it, saying it was fraudulent because Facebook hid information from them, and that they deserved more money.

The 6-foot 5-inch (1.96-meter) twins, who competed in the 2008 Beijing Olympics, had been planning to appeal an April 11 ruling by a federal appeals court in San Francisco upholding the settlement, which that court called "quite favorable."

But in a filing on Wednesday with that court, the Winklevosses said that after "careful consideration," they decided not to seek Supreme Court review. The filing did not give a reason for the decision.

COURT REJECTS WINKLEVOSS TWINS LAWSUIT AGAINST FACEBOOK

Cameron and Tyler Winklevoss must accept their $65 million settlement from Facebook and move on.
A U.S. appeals court ruled Monday that the settlement still stands, despite the Winklevosses' claim that Facebook did not disclose an accurate valuation.

The suit stems from the Winklevosses' claim that Facebook co-founder and CEO Mark Zuckerberg stole their idea for the social-networking site. Zuckerberg and Facebook deny the allegations, but agreed to settle in 2008. Since then, the Winklevoss twins have attempted to secure a higher settlement by claiming that Facebook is guilty of securities fraud.

"The Winklevosses are not the first parties bested by a competitor who then seek to gain through litigation what they were unable to achieve in the marketplace," Chief Judge Alex Kozinski wrote in today's ruling. "And the courts might have obliged, had the Winklevosses not settled their dispute and signed a release of all claims against Facebook."

With both the district court and appeals court in agreement, it seems this may be the end of the Winklevosses' claim to any additional shares of Facebook. "For whatever reason, they (the Winklevosses) now want to back out. Like the district court, we see no basis for allowing them to do so," Kozinski wrote. "At some point, litigation must come to an end. That point has now been reached."