Facebook purchased the defunct company ConnectU in a court settlement. ConnectU filed Facebook and a settlement agreement for both cases was reached in February 2008, reportedly valued at $65 million. This included buying the domain name ConnectU.com and shutting it down.
However, In May 2010, ConnectU accused Facebook of securities fraud on the value of the stock that was part of the settlement and wants to get the settlement undone. According to ConnectU's allegations, the value of the stock was worth $11 million instead of $45 million that Facebook presented at the time of settlement. This meant the settlement value, at the time, was $31 million, instead of the $65 million.
