Stan Lee Sues His Former Company Pow! Entertainment For $1B

Stan Lee Sues His Former Company Pow! Entertainment For $1B

Comic book legend Stan Lee has filed a lawsuit against his former business partners at POW!

Stan Lee, co-creator of Spider-Man, X-Men and Black Panther, lives in a world of heroes and villains, but now he is claiming his former company POW!

In the suit, Lee alleges that Olivarez managed to convince him to sign a power of attorney to gain control over Lee's assets.

POW! was acquired past year by Hong Kong-based Camsing International.

He says that they either tricked him into signing over the exclusive rights to his name, image and likeness or flat-out forged his signature.

When he had first formed POW!, it was meant to be a mere holding company for his vast property used for comics and animation.

According to the suit filed in Los Angeles Superior Court, Lee has alleged that Duffy and Champion did not disclosed the full terms of the company's sale to Hong Kong-based Camsing International in 2017. Camsing then gained exclusive rights to the company and POW!

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Yesterday, news broke Stan Lee was preparing for yet another day in court. Lee is suing the company and its officers for fraud and conversion, essentially claiming its officers stole his "identity, name, and likeness", according to The Hollywood Reporter. Lee also has to deal with some macular degeneration which has rendered him legally blind since 2015.

At 95-years-old, it's troubling that others have seemingly been taking advantage of Lee for so long. CEO Duffy were among the "opportunists" who "saw a chance to take advantage of Lee's despondent state of mind" after the 2017 death of his wife Joan. If someone had read the document to Lee, the suit adds, "he would not have knowingly signed it".

"In addition, Pow! took control of Lee's personal social media accounts, including Facebook, Instagram and Twitter, thereby impersonating Lee before a combined 15 million followers worldwide", the complaint reads.

In an emotional video to his fans earlier this year, Lee said: "I haven't been in touch with you lately".

"From now on, I will depend on you, my dear fans, to protect and defend me". You guys are my true superheros.

Lee is seeking an injunction declaring their agreement invalid and unenforceable, with damages in excess of $1 billion. Lee did not knowingly grant POW! exclusive rights to his creative works or his identity is so preposterous that we have to wonder whether Mr Lee is personally behind this lawsuit.