There was a rumor floating around last year that Valley bad boy Sean Parker was forced out of startup Plaxo for a cocaine arrest. Turns out that rumor wasn't exactly true. According to a transcription of Mark Zuckerberg's deposition from the ConnectU v. Facebook case, it was Facebook, not Plaxo, which dropped Peter Thiel's protégé from its executive ranks after Parker was arrested for possession while at a house party. A house party Parker attended with a female Facebook employee who was also a Stanford undergrad at the time. Parker earlier told Valleywag that the arrest was "a misunderstanding." We'll say.

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