iLounge

Apple paid a “7-figure settlement” to settle a trademark lawsuit related to its iAd mobile advertising platform, according to a new report. Cnet reports that Apple is cited as having paid the settlement to Innovate Media, a client of “intellectual asset management” firm Consor, in a news release briefly posted to Consor’s website. Innovate Media filed a lawsuit against Apple over its iAds trademark, which it had used since 2006, in May; in the release, Consor claimed that “the comprehensive confusion analysis and quantification of economic damages performed by Consor were instrumental to Innovate Media reaching a highly favorable settlement with Apple.” Following the discovery of the release, a Consor employee claimed that it was never posted, and later said that some of the information in the release “wasn’t accurate” without elaborating further. [via Mac Rumors]