Published: Thu, May 17, 2018
Entertaiment | By Paul Elliott

Stan Lee Goes After Ex-Company ... POW! Here's a $1 BILLION Lawsuit!!!

Stan Lee Goes After Ex-Company ... POW! Here's a $1 BILLION Lawsuit!!!

Comic book creator Stan Lee recently filed a $1 billion lawsuit against POW! Entertainment and an injunction invalidating its exclusive rights to his name, image, and likeness. In the suit, Grant addresses that the Spider-Man and X-Men co-creator is suing the company that he co-founded in 2001.

As of May 2018, CNBC has acquired the 1 Billion USD lawsuit which alleges that the defendants have used Stan Lee's likeness to sell POW!

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

Instead, Lee claims he signed a fraudulent intellectual property assignment agreement, granting POW! exclusive rights to use his name, identity, image, and likeness on a worldwide basis in perpetuity. According to the lawsuit, Lee was unable to actually read the document due to macular degeneration, and he doesn't remember anyone reading it to him, suggesting that his signature may have been forged, copied or induced.

When he had first formed POW!, it was meant to be a mere holding company for his vast property used for comics and animation. Entertainment CEO Shane Duffy and co-founder Gill Champion did not discuss the details of their transaction with Camsing International Ltd., an investment holding company principally engaged in the provision of procurement and assembly services in Hong Kong. Camsing then gained exclusive rights to the company and POW!

Moreover, the company has allegedy been the "persona" behind his social media accounts this entire time. Entertainment, alleging that he was tricked into signing a document giving away rights to use his name and likeness. I maybe 95 years old, but I still miss my lovely mother Celia. 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".

The lawsuit, which was obtained by CNBC, alleges that the defendants used Lee's name and likeness to sell the company to China-based Camsing International past year. Lee is also suing his ex-business manager for Jerardo Olivarez for fraud.

In an emotional video to his fans earlier this year, Lee said: "I haven't been in touch with you lately". "He gave me a check as a thank-you".

On the day of the premiere, news broke of a lawsuit in which Lee is accused of sexual misconduct by a massage therapist who says he acted inappropriately with her during two separate sessions.

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