Apple reportedly offered Proview $16 million to settle the companies’ ongoing legal dispute over the iPad name, but Proview rejected the offer, Chinese website Sina reported. The cash-strapped company is instead looking for $400 million dollars in an attempt to appease numerous creditors, eight of which are China-based banks. Proview originally threatened to sue Apple in United States for $2 billion, but a California judge tossed out the suit, instead encouraging the companies to reach a settlement. The two companies have been locked in a high-profile legal dispute over whether or not Apple has the right to use the iPad name. The Cupertino-based company maintains that it licensed the trademark from Proview in 2009, however the Chinese company claims the transaction in question is invalid.
[Via The Next Web]