Facebook assets frozen in bizarre New York lawsuit

[babsbunny]

http://money.cnn.com/2010/07/13/technology/facebook_lawsuit/index.htm

By Stacy Cowley, tech editorJuly 13, 2010: 6:38 PM ET


NEW YORK (CNNMoney.com) -- Proving that even a seemingly frivolous lawsuit can throw a wrench in the corporate works, Facebook is fending off a New York restraining order temporarily preventing it from transferring or selling any of its assets.

The order stems from a case filed in late June in New York's Allegany County state court by Paul Ceglia, a local resident who claims that in 2003 he paid Facebook founder Mark Zuckerberg $1,000 to build a website "designed to offer the students of Harvard university access to a wesite similar to a live functioning yearbook with the working title of 'The Face Book.'"