Briefcase

Judge dismisses lawsuit over idea for Facebook

NEW YORK – A federal judge in Boston has dismissed a lawsuit against Facebook filed by Cameron and Tyler Winklevoss, Harvard classmates of CEO Mark Zuckerberg.

The Winklevoss twins’ claim that Zuckerberg stole the idea for Facebook from them got the full Hollywood treatment last year in the hit movie “The Social Network.”

On Friday, Judge Douglas P. Woodlock from the U.S. District Court in Massachusetts dismissed the lawsuit the brothers filed in 2007.

In 2008, Facebook agreed to pay them $65 million in cash and stock, but they and partner Divya Narendra wanted more. The brothers said last month they would not appeal their case to the Supreme Court.

Associated Press

Apple Inc. joins group weighing bid for Hulu

LOS ANGELES – Apple Inc. has joined a handful of companies, including its chief rival Google Inc. and online portal Yahoo, in weighing a potential offer for video service Hulu, a person with knowledge of the situation confirmed.

The discussions are still in the early stages, said that individual, who requested anonymity because the negotiations are confidential.

Hulu has emerged as one of the leading sites for watching TV shows online, attracting about 28 million monthly visitors, according to measurement firm ComScore. Its media owners, News Corp., Comcast Corp.-owned NBCUniversal and the Walt Disney Co., have opted to put the service up for sale, in part because its success was creating conflicts with existing business arrangements, but also to capitalize on the hot investment climate for technology companies.

The site could fetch a price as high as $2 billion, according to banking estimates.

Los Angeles Times

FDIC closes down two banks in Florida

WASHINGTON – Regulators have shut down two small banks in Florida, bringing to 57 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. on Friday seized Southshore Community Bank in Apollo Beach and LandMark Bank of Florida in Sarasota.

Southshore Community Bank had about $46.3 million in assets and $45.3 million in deposits. LandMark Bank had about $275 million in assets and $246.7 million in deposits.

American Momentum Bank, based in Tampa, Fla., agreed to assume all of the deposits from the two banks and to buy essentially all of their assets.

The failures are expected to cost the deposit insurance fund $42.7 million, combined.

Southshore Community Bank had two branches, and LandMark Bank of Florida had six branches.

Associated Press