It's a big week for legal settlements! With the entire tech and business world paying attention to new iPhones, Snapchat just issued a little press release admitting Reggie Brown did indeed help create the app.

The volume of pure resentment spewing out of Snapchat is approaching early-Winklevoss levels: TechCrunch reports the co-creators, embroiled in legal grappling, are now asking for a restraining order against their former friend after alleged leaks to the press.

According to a Business Insider report, a new regulatory filing unearthed by VCExperts, which measures data on private companies, shows that Snapchat will only raise $54 million, a steep drop from the rumored $200 million round. But the biggest nosedive is the ephemeral trendsetter's valuation. The filing says investors value Snapchat at $2 billion—not the $3 billion, or $3.5 billion, or $4 billion previously reported.

When you can afford something like this, why not turn down $3 billion? Ha ha, joking, that's still baffling. At least Bobby Murphy, the other, 25-year-old, slightly less Machiavellian guy behind Snapchat, can ponder his business moves in a new, $2.1 million, ultra-modern Venice Beach fortress. [via Curbed]

And more importantly, he probably deserves some money. In deposition video obtained by Business Insider, Snapchat's co-creator and CEO Evan Spiegel discusses Reggie Brown, who helped create the app back in their Stanford days and was abruptly kicked out and left with nothing. But in Spiegel's own words, Brown was part of the multi-billion dollar sensation—and still won't get a cut.

In the annals of frat backstabbing, few things rank as high as Evan "L.A." Spiegel kicking his friend Reggie Brown IV out of Snapchat, a "$4 billion" company. This is Winklevoss-level shit, and new court documents show just how flagrant the treachery was.

There are some forces so powerful, not even the wrought iron bonds of frat friendship can withstand them. Money is one—and so the fun-loving young dudes who made Snapchat are at each other's throats in court. Here's where it started to go bad.

The Brogrammer is a mostly mythological figure, a nine-headed scapegoat. But there are, of course, programmers who also happen to be massive bros. For instance, the dudes who founded mega-valuable Snapchat. When you call yourself a "certified bro" in an email to the opposite sex, then yes, you probably are. Let's read their emails and texts.

A source familiar with Snapchat's recent round of funding said that the teen sensation's two twenty-something cofounders, Evan Spiegel and Bobby Murphy, each received $10 million in secondary funding as individual shareholders. According to the source, that combined $20 million was on top of the $60 million Series B the company raised at an $800 million pre-money valuation.

Evan You don't usually see nervous startup types on national TV shows, but Colbert welcomed Snapchat co-founders Evan Spiegel and Bobby Murphy last night. His question: why do we need this? How will it make money? Their answer? Uh.