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.

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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.

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