Stan Lee Files Billion Dollar Lawsuit Against Former Company

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May 16, 2018 | 7:25am EST

Stan Lee has filed a $1 billion lawsuit alleging executives at his former company POW! Entertainment have swindled him.
The Marvel Comics legend, 95, founded the firm in 2001, but sold it last year to Hong Kong company Camsing International Holding. On Tuesday 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.
The suit, which has been obtained by Variety editors, names current POW! chief executive Shane Duffy and the company’s co-founder Gill Champion as defendants and alleges 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.”
His lawyers want the court to void the license agreement and impose “damages in excess of one billion dollars”.
The suit calls the POW! duo “opportunists” who took advantage of the writer’s eye problems and his “despondent state of mind” following the death of his wife Joan last year. 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”.
POW! chiefs are also accused of drawing up a “fraudulent Intellectual Property Assignment Agreement” which granted them the rights to use Stan’s name, identity and likeness in perpetuity and of taking control of his personal social media accounts, including Facebook, Instagram and Twitter – and impersonating him in interactions with his combined 15 million followers.
The new filing follows a suit brought last month against Jerardo Olivarez, Stan’s former publicist and business manager, who is accused of taking $1.4 million from the star’s bank accounts and of using his blood to create a commemorative stamp without consent.
In April, Stan was forced to deny reports he was a victim of elder abuse and that his daughter and several other associates, including Jerardo, were taking advantage of him financially.

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