Stan Lee Sues His Former Production Company POW! Entertainment For $1 Billion

Stan Lee Sues His Former Production Company POW! Entertainment For $1 Billion

Entertainment, claiming that the media and entertainment company he co-founded conspired with a pair of its employees to steal his identity.

Lee founded Pow! in 2001 and sold it a year ago to Camsing International Holding, a Hong Kong company. At the time, Lee claims, he was devastated because his wife was on her deathbed and they took advantage of his despair - and his macular degeneration, which rendered him legally blind in 2015.

In this latest suit, Lee claims that Olivarez, along with Duffy and Champion, requested he sign a non-exclusive license with POW! for the use of his name and likeness in connection with creative works owned by the company. Instead, what he purportedly signed was a "fraudulent" intellectual property assignment agreement that granted POW! Stan's attorney filed a complaint with the Los Angeles Superior Court claiming POW! chiefs took advantage of his deteriorating eyesight to get him to sign away the exclusive right to use his name.

According to the lawsuit, Lee was unable to actually read the document due to macular degeneration, and he doesn't remember anyone reading it to him, suggesting that his signature may have been forged, copied or induced. When the deal happened, Lee could not read the document that he was signing.

According to the documents, Lee had no idea a sale was in the offing.

Corroborating what Lee has been discussing on Twitter, the comic book mogul also claims POW! took control of his social media accounts and has been impersonating him.

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Lee also points to the fact he even refused to give Disney the right to use his name when he struck a multi-billion dollar deal with the movie company.

Lee created or co-created some of Marvel's most recognizable characters, like Spider-Man, Iron Man, Hulk, and The Avengers, in the 1960s. It accuses them of brokering the deal to sell POW! while Stan "was in a state of total devastation" over his ailing wife and that they "never disclosed the actual terms of the deal to Lee before closing it".

On 13 May, Lee's Twitter account bore the message: "Today was the first day I ever did a tweet myself".

"From now on, I will depend on you, my dear fans, to protect and defend me", Lee said. "I love you all and let's keep up this great relationship". You guys are my true superheroes.

Lee was himself accused last month of sexual battery and battery after he was sued by massage therapist Maria Carballo.

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