Winklevoss Twins Settle Lawsuit Against Charlie Shrem

The Winklevoss twins have ended a lawsuit against Bitcoin entrepreneur Charlie Shrem by reaching a settlement out of court.
As seen on the court documents published on April 16, the case has been dismissed and will not be reopened. The legal papers also outlined that both the parties will bear their own legal cost.

BREAKING(ish): Winklevoss lawsuit against is dismissed with prejudice following settlement by the parties. No details about the settlement are available on the docket, but for a case that began with some big noise by the plaintiffs this sure ended with a whimper.

— Palley (@stephendpalley)

“Pursuant to Rule 41(a) of the Federal Rules of Civil Procedure, it is hereby stipulated by and among plaintiff Winklevoss Capital Fund, LLC and defendant Charles Shrem, by and through their respective counsel of record, that the entire civil action be dismissed with prejudice,” the New York court document noted. “WCF and Shrem will each bear their own attorneys’ fees and costs. The case will not be reopened.”
Flashback
Last year, Cameron and Tyler Winklevoss accusing him of defrauding them of 5,000 Bitcoins, whose present market value is around $26.1 million, according to Coinmarketcap.com.
Shrem, in 2012, allegedly accepted a total of $1 million from the brothers and did not deliver Bitcoins worth the full value. He was also accused of using the funds for buying luxury cars, powerboats, and other expensive goods.
A previous court document posted by the same court on April 5th confirmed a settlement between the two parties, however, that provided the plaintiff and the defender had an option to reopen the case within 30 days.
Winklevoss brothers are one of the early investors in Bitcoin. At the peak of the market, they become however, the value of their holdings significantly reduced with the year-long bear market. They are also operating a crypto exchange in New York which is focused to serve the trading needs of institutional investors.
Meanwhile, a former Kraken employee for not paying him the agreed compensation.