The point is they based the stock off the valuation of preferred stock, but then they actually "received" common stock. It takes a while to get the ball rolling to accuse Facebook that they got a raw deal.
Here, Facebook tried to pull over a "well at least its stock" deal even though they agreed to $65million.
I wouldn't feel bad for ConnectU as $35million is still fantastic, but wouldn't you go back to court if another 35 was on the table? You'd be an idiot not too.
All that said, this is perfectly in-line with Zucker's character as its been painted as of late.