Feeds

Apple boss Cook may have stumped up $60m IPAD pay-out

Proview claims Cook wanted to take responsibility

New hybrid storage solutions

Apple’s IPAD trademark opponent Proview has suggested that CEO Tim Cook may have personally stepped in to fund the $60 million settlement fee paid to the failed monitor company last month.

In an interview with Chinese tech title IT-Times, independently translated by The Reg, Proview founder Yang Rongshan said the fee was noted by many to be rather close to the $75m dividend pay-out Cook surprisingly declined in May this year.

The decision was revealed in an SEC filing at the time and although some media reports suggested that Cook turned down the potential windfall on his 1-million-plus shares because he wanted to “set an example”, there was no official reason given.

Proview legal bod Ray Mai offered a little more explanation as to why Cook may have felt responsible for the payment.

He told IT-Times that because the whole legal stand-off was caused by Apple employees making “avoidable mistakes”, it would have been wrong to punish shareholders by taking the compensation payment out of the Cupertino coffers.

“With Steve Jobs gone, Tim Cook should take responsibility,” he said.

The whole sorry mess revolved around the fact that Apple thought it had bought the rights to the disputed trademark from Proview Taiwan in 2009 for £35,000, but the monitor firm claimed only its Shenzhen affiliate had the legal right to sell the name for use in China.

There were also allegations that Apple deliberately tried to hide its reason for buying the name by employing an intermediary - IP Application Development (IPAD) - which was accused of acting deceitfully in its negotiations with Proview.

Apple couldn’t immediately be reached for comment. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.