Chief executive officer of Facebook Inc (NASDAQ:FB) Mark Zuckerberg, has moved to clear the air concerning a couple of lawsuits he had filed after purchasing land in Hawaii. Zuckerberg now claims that the issue has resulted in misleading information being spread concerning the matter.
Eight lawsuits
The issue revolves around the 700 acres of land that the 32-year-old billionaire bought on the northern shores of Kauai, Hawaii for $100 million in 2014. Last month Zuckerberg filed 8 lawsuits aimed at forcing hundreds of people who own 14 plots on about 8 acres to sell their land as their acreage sits within his property. The tech billionaire however says the matter has not been accurately reported and that the lawsuits he has filed are just a way of locating the various owners who may not be aware that they own the land.
“To find all these partial owners so we can pay them their fair share, we filed what is called a ‘quiet title’ action. For most of these folks, they will now receive money for something they never even knew they had. No one will be forced off the land,” Zuckerberg wrote in a Facebook post.
The lawsuits were filed by three of the tech billionaire’s companies – High Flyer LLC, Northshore Kalo LLC and Pilaa International LLC. Defendants in the lawsuits will have three weeks after being served with a copy of the legal complaint within which to respond. Failure to respond will disqualify them from having a say in the proceedings.
‘Un-neighborly’ conduct
This is not the first time the chief executive of Facebook has had to face off with residents surrounding his Hawaii estate. After he built a rock wall on his property, the residents complained that it was obstructing their view of the beach. The 6-feet wall snakes along a road in Kilauea, a semi-rural community. Zuckerberg’s spokesperson for his Hawaii property operations later said that the wall was only meant to reduce noise from the road traffic and not to block the view of the beach.
In Thursday’s trading session, Facebook Inc fell by 0.29% to close the day at $127.55 a share.