Legendary comic book creator (and literal Disney Legend) Stan Lee has filed a $1 billion lawsuit against POW! Entertainment — a company which he co-founded in 2001.
- In the suit, Lee accuses the POW! of fraud and says the company is attempting to steal his name and likeness.
- According to Deadline, Lee says that Pow! CEO Shane Duffy and co-founder Gill Champion misled him about the terms of the company’s sale Camsing International (based in Hong Kong) last year.
- Although he is not named as a defendant in the suit, it also accuses Jerardo Olivarez of convincing Lee to sign a power of attorney in order to gain control of his assets.
- This news comes as many media reports suggest that several parties have attempted to take advantage of Lee and his fortunes, especially ever since the 95-year-old’s wife Joan B. Lee passed away last year.
- Stan Lee was named a Disney Legend in 2017 for his integral role in all things Marvel.
- Per tradition, he also has a cameo in the record-breaking Avengers: Infinity War — now in theatres.
What the Lawsuit is Saying:
- The suit accuses: “Defendants 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. Pursuant to their conspiracy and agreement, Defendants … knowingly made material misrepresentations of fact, and forged or fraudulently obtained a signature from Lee to give POW! Inc. the exclusive use of Lee’s identity, name, image, and likeness … and each of them knew that their objective was unlawful and they intended to aid each other in achieving that unlawful objective.”
- Regarding the death of Joan B. Lee and what followed: “Upon her death. Lee at age 94 became the target of various unscrupulous businessmen, sycophant and opportunists who saw a chance to take advantage of Lee’s despondent state of mind, kind heart and devotion to his craft – a devotion that often allowed him to overlook the bad intentions of others when it came to his property.”