Marvel icon Stan Lee in $1b lawsuit against company he started
Marvel icon Stan Lee in $1b lawsuit against company he started
Stan Lee Is Suing Pow! Entertainment, The Company He Co-Founded, For $1 Billion
16 May, 2018, 16:48
Lee, the comic book creator responsible for such Marvel superheroes as Iron Man, Black Panther and the X-Men, has filed a lawsuit against his former business partners to regain control of his name. The suit says they "conspired and agreed to broker a sham deal to sell POW! to a company in China and fraudulently steal Stan Lee's identity, name, image, and likeness as part of a nefarious scheme to benefit financially at Lee's expense".
Lee's lawsuit against his former company includes current CEO Shane Duffy and Gill Champion - co-founder of POW! alongside Lee - and accuses them of tricking Lee into signing over the exclusiverights to his likeness, including the rights to his name. "The exclusive use of Lee's identity, name, image, and likeness ... and each of them knew that their objective was unlawful and they meant to aid each other in achieving that unlawful objective", it added.
Lee claims that Duffy and Champion failed to disclose the full terms of the company's sale to Hong Kong-based Camsing International in 2017. He sold it to Camsing Entertainment previous year.
It added that Lee has a history of agreeing to non-exclusive licences for the use of his name, image and likeness. He was also grieving over the death of his wife, Joan.
In his complaint, filed Tuesday in Los Angeles County Superior Court, Lee lays out the terms of his argument. He even refused to give it to Disney.
Due to Lee's advanced macular degeneration he has lost most of his vision and can not read. While the Illegitimate Document purports to contain Lee's signature, Lee never knowingly signed it. someone, likely one of the Defendants, induced Lee to sign the Illegitimate Document by using a bait and switch tactic: "telling Lee it was something else", writes attorney Adam Grant in the complaint. The suit notes that Olivarez is "a person Lee once trusted but who is being sued by Lee now for fraud". The complaint also states that Camsing was given access to his Twitter, Facebook, Instagram accounts against Lee's wishes.
"From now on, I will depend on you, my dear fans, to protect and defend me", Lee said. "You guys are my true superheros", posted his account recently. Entertainment, in a massive $1 billion dollar lawsuit, TMZ reports.
Lee seems intent on regaining control of his life.
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