Facebook, ConnectU Deal Worth $65M: Law Firm

Law360, New York (February 10, 2009, 12:00 AM EST) -- Facebook Inc. paid ConnectU LCC $65 million to settle litigation between the two social networking sites over alleged misappropriation of trade secrets, law firm Quinn Emanuel Urquhart Oliver & Hedges LLP reportedly announced in its January newsletter.

The amount of the settlement, which a judge in the U.S. District Court for the Northern District of California agreed to enforce over ConnectU's objections in June, had remained sealed despite an effort by technology Web site CNET Networks Inc. to open the documents later that month.

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