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Facebook CEO Mark Zuckerberg Settles Real Estate Lawsuit With Zero Payout

Posted by Guenee Abragan on Mar 18, 2016 07:37 AM EDT
Mark Zuckerberg Awarded With Axel Springer Award In Berlin more big
Mark Zuckerberg and Mathias Doepfner attend the presentation of the first Axel Springer Award on February 25, 2016 in Berlin, Germany. (Photo : Getty Images/Frank Zauritz)

Facebook CEO Mark Zuckerberg had settled a lawsuit and agreed to pay nothing to a real estate developer who filed a lawsuit against him. The billionaire has been in a dispute over a property near his home in Silicon Valley.

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Developer Mircea Voskerician sued Zuckerberg in 2014, under the contention that the CEO agreed to purchase his rights to a piece of land adjacent to Zuckerberg's Palo Alto, California property.  According to Mercury News, as part of the deal, Voskerician claimed Zuckerberg promised to introduce Voskerician to people who could help his real estate business, but failed to do so.

The Facebook CEO argued with the lawsuit, claiming in court that Voskerician threatened to construct a large mansion on the land and demanded millions of dollars in exchange for what he calls privacy consideration.

Patrick Gunn, an attorney for Zuckerberg, stated that the evidence in the case revealed that Voskerician used doctored evidence to support his claims. Gunn continued by saying that he is pleased this harassment suit had finally ended and that plaintiff will receive no financial gain from his misconduct.

Guyton Jinkerson, an attorney for Voskerician who was hired last January, said he and his client had seen the factual and legal premises used by Voskerician's previous lawyers. He said that upon careful consideration, they determined how the case was to be resolved. He claimed to be pleased that the parties had ended the litigation.

The Facebook CEO's lawyer Gunn, did not immediately respond to phone calls and e-mails, but other media outlets had reported that Zuckerberg will not be paying any amount of money to the real estate developer to proceed with the settlement. According to Marinji.com, the billionaire had also agreed not to sue Voskerician in the future. 

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