Stan Lee sues his former company Pow! Entertainment for $1 billion
ABC/Richard Cartwright(LOS ANGELES) — Comic-book legend Stan Lee, who created some of Marvel’s biggest superheroes, filed a lawsuit against his former company, Pow! Entertainment, Tuesday, citing his business partners took advantage of his poor eyesight and the fact that he was mourning his wife, Variety reports. Lee is suing for $1 billion.
When Lee sold his company last year to Camsing International Holding in China, he said he was suffering from macular degeneration, which weakens eyesight. According to the suit, CEO Shane Duffy and Gill Champion used this health condition against him and swindled him into signing over his name. He says the two tricked him into signing away exclusive rights to his name, image and likeness. Lee even claims the two forged his signature.
In addition to his declining vision, Lee says he did not know nor understand the terms of the contract because he was mourning the death of his wife.
He now wants $1 billion and his name back.
Lee is no stranger to legal issues lately. He also filed suit last month against his former publicist and business manager Jerardo Olivarez, whom Lee claims stole $1.4 million.
Lee created or co-created some of Marvel’s most recognizable characters, like Spider-Man, Iron Man, Hulk, and The Avengers, in the 1960s. He founded Pop! Entertainment in 2001.
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