Facebook founder Mark Zuckerberg's legal battles with his Harvard contemporaries Cameron and Tyler Winklevoss may see an end soon with the twins informing the 9th U.S. Circuit Court of Appeals on Wednesday that they are intending not to appeal its earlier decision.

In April, the same court turned down the appeal filed by the Winklevoss of nullifying their earlier $65 million settlement with Facebook as they argued that the agreement was deceptive, with the social media firm deliberately hiding financial information from them at the time of the deal.

The twins said on their appeal that Zuckerberg owes them more money, a claim that is separate from their earlier accusations that the Facebook founder duped them and stole their idea when he collaborated with them in the earlier development of HarvardConnection, now known as ConnectU.

Zuckerberg developed and launched Facebook in 2004, reportedly a few months after he was contracted by the twins and Divya Narendra to work on their developing site.

However, the California federal appeals court ruled against the Winklevoss twins and on its April 11, the plaintiffs were advised that Facebook has already extended to them a favorable deal.

Following that decision, lawyers of the two had hinted that they lodge an appeal before the US Supreme Court yet on a filing made public by the court on Wednesday, the twins informed the court that they will be seeking further reviews with the High Court.

In that filing, the Winklevosses and Narendra declined to give a specific reason for their decision, which they said was made after some "careful consideration."

In a statement provided on the same day, Facebook welcomed the latest move from the twins and asserted that "we've considered this case closed for a long time, and we're pleased to see the other party now agrees."

The new development, analysts said, should pave the way for the dismissal of a similar lawsuit pending before a Boston court, according to a Reuters report on Wednesday, which should also clear the way for a planned Facebook IPO by the first quarter of 2012.

By that time, Facebook would have been worth an estimated $100 billion as the hugely popular social networking site achieved more than 700 million registered members as of the month of June.