Stan Lee Files $1 Billion Lawsuit Against POW! Entertainment

From Axelle  Bauer-Griffin  FilmMagic

In the complaint, Lee is saying two partners and the company took advantage of his deteriorating eyesight and his state of mind while his wife was on her deathbed - all in an effort to have Lee sign away the exclusive rights to his name as the company was being sold to Hong Kong-based company Camsing International.

The curious case of Stan Lee has made waves across the Internet ever since Lee was diagnosed with pneumonia and hospitalized with an irregular heartbeat this February.

The 95-year-old says that he never knowingly signed the agreement for the "sham" deal, and that it amounts to a fraudulent theft by Duffy and Champion of his "identity, name and likeness", branding it - with a phrase lifted straight from the comic books - a "nefarious scheme" involving possible forgery.

Stan Lee is suing the entertainment company he co-founded for $1bn (£742m).

The production company was sold to the Chinese company Camsing past year, but Lee argues that he was unaware of the negotiations and that he never would have knowingly signed his name on a document that gave away his name. The suit notes that Olivarez is "a person Lee once trusted but who is being sued by Lee now for fraud".

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Lee lost his longtime wife Joan, who died at the age of 93 last July.

However, the suit says, Champion and POW!

Lee explained that he would not have knowingly signed the licence and that he suspects someone induced him into signing the document by using a "bait and switch" tactic, telling Lee that the document was something else. Lee took control of his Twitter for the first time today. "Lee has yet to provide anyone with the exclusive right to use his identity, image, name and likeness".

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

The suit, brought by attorney Adam D.H. Grant of Alpert, Barr & Grant, seeks to rescind the license agreement as well as "damages in excess of one billion dollars". POW! did not return Newsarama's request for comment regarding the social media accounts prior to the filing of the suit.

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