Stan Lee levies one billion dollar lawsuit against POW! Entertainment

Stan Lee levies one billion dollar lawsuit against POW! Entertainment

The feted comic book creator, Lee last week announced a $1 billion lawsuit against Camsing in California. Entertainment with charges against stealing his name for financial benefit.

The report which first appeared on Variety Magazine said; The new suit also mentions Olivarez, though he is not named as a defendant.

Camsing, which acquired POW!'s library IP past year, is a member of Camsing Global Group, a China business consortium founded by Vivian Lo in Hong Kong in 1996. Therefore, Lee is claiming that his signature was either forged to offer POW! exclusive rights to his likeness (something Lee has historically never done), it was taken from another document, or that POW! execs did a "bait and switch", telling Lee that he was signing something other than a document that gave away the rights to his likeness.

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

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

WWE 'Smackdown' Up for Grabs as NBCUniversal Moves to Pin Down 'Raw'
TV rights is a huge revenue earner for the WWE , so it's unlikely WWE just wants to put Smackdown on its own WWE Network. In addition to Raw and Smackdown , WWE produces Main Event and Superstars for their streaming Network service.

He claims that the company's president Gill Champion and its CEO Shane Duffy took advantage of his grieving state following the death of his wife Joan and also his macular degeneration when the business was sold to Hong Kong-based company Camsing International in 2017. Camsing then gained exclusive rights to the company and POW!

Over the weekend, Lee tweeted that had not been responsible for previous posts from his official social media accounts.

Lee's lawsuit claims that the defendants cruelly capitalized on Lee being distracted due to the 2017 death of his wife of 70 years, as well as taking advantage of the fact that he suffers from macular degeneration that would have made it virtually impossible for Lee to read any documents relating to the transaction.

This is not the first legal wrangle that the Marvel legend is going through, recently, he filed a suit against his former publicist and business manager Jerardo Olivarez.

Lee, who is 95, is the creator of hundreds of superheroes such as Spider-Man, The Hulk, Thor and Black Panther. "You guys are my true superheroes", he wrote. His lawyers want the court to void the license agreement and impose "damages in excess of one billion dollars". In particular, the notion that Mr 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.

Related Articles

  • Kristen Stewart flouts footwear ban at Cannes Film Festival

    Kristen Stewart flouts footwear ban at Cannes Film Festival

    Away from the footwear controversy, the screening attended by Kristen Stewart proved to be a success story at Cannes . The high split of her gown allowed her to show off her lean legs, which were elongated by a pair of silver heels.
    NBA Awards: LeBron James, Anthony Davis, James Harden Among Finalists

    NBA Awards: LeBron James, Anthony Davis, James Harden Among Finalists

    Harden, who led the league in scoring, has twice been a runner-up for the award, including a year ago when Russell Westbrook won. Anthony Davis is also up for defensive player of the year alongside Jazz bigman Rudy Gobert and 76ers centre Joel Embiid .
    Senate OK's bill in bid to retain net neutrality

    Senate OK's bill in bid to retain net neutrality

    Bitcoin and cryptocurrency may be decentralized but people buy and sell them on exchanges hosted by internet service providers. The FCC's existing net neutrality rules are set to end June 11 after the commission voted to gut the rules a year ago .
  • Jobs under threat as Mothercare set to close stores across the UK

    Jobs under threat as Mothercare set to close stores across the UK

    The steady decline of Mothercare has seen the number of stores around the United Kingdom fall from 400 ten years ago, to just 137. Mothercare Ireland was forced to close three shops in 2015 as financial troubles forced the company to go into examinership.
    Microsoft Panning to Launch low-priced  Surface tablets to Challenge Apple

    Microsoft Panning to Launch low-priced Surface tablets to Challenge Apple

    The tablets are reportedly 20 percent lighter than the Surface Pro and swap the unit's 12-inch screen for a smaller 10-inch unit. The devices will be priced around $400, approximately Rs 27,000 and will be a direct competitor to the Apple's iPad .
    One beach in Yorkshire gets a Blue Flag - it's Whitby!

    One beach in Yorkshire gets a Blue Flag - it's Whitby!

    The beach has also been handed a Seaside Award from Keep Britain Tidy , one of 125 beaches in the country to do so. Now Keep Britain Tidy is hoping to get more kids in the water with their Blue Flag and UK Seaside Awards.
  • Man threatens to call ICE on people speaking Spanish in restaurant

    Man threatens to call ICE on people speaking Spanish in restaurant

    As a reference, only 51 percent of New Yorkers actually speak English at home, according to a 2012 WNYC report. Hundreds of posters from across the US whacked his law firm with one-star reviews or posted insulting photos.
    US Officer Shoots Student Who Opens Fire at School

    US Officer Shoots Student Who Opens Fire at School

    Milby, 19, was reportedly recently expelled from the school, although it was unclear why, according to Sauk Valley Media . Students at Dixon High School are a bit shaken up after what unfolded during their graduation practice Wednesday morning.
    Warner, Kaine Vote To Save Net Neutrality

    Warner, Kaine Vote To Save Net Neutrality

    For almost all of the past 10 years, the FCC has had in place rules that sought to guarantee net-neutrality protections. However, Kennedy was also skeptical of the prospects that net neutrality could cost Republicans in the fall elections.
  • Karolina Pliskova Hits Umpire's Chair With Racket After Loss

    Karolina Pliskova Hits Umpire's Chair With Racket After Loss

    Pliskova was served at 30-all with the final set deadlocked at 5-5 and went on to lose the match very much based on that decision. At 5-5 in the match-deciding set, Pliskova overhead smashed a slow-dropping ball for what she assumed was a winning point.
    Hardik Pandya and KL Rahul exchange jerseys

    Hardik Pandya and KL Rahul exchange jerseys

    On this wicket when the slower ball was bowled on a good length, it wasn't gripping, so I looked to bowl a dipper and it worked". Two changes for us, Yuvraj Singh and Manoj Tiwary are back, they replace Mayank Agarwal and Karun Nair. "I was clear.
    Go slow if at all on legalization — Sports betting

    Go slow if at all on legalization — Sports betting

    This season, an National Hockey League team began playing in Las Vegas, where the NFL's Oakland Raiders will relocate in 2020. Prior to the ruling, the Act was what made gambling on sports illegal (with a couple exceptions) in the United States.