Marvel’s co-creator, Stan Lee has filed a lawsuit that amounts to $1bn against Pow! entertainment for taking advantage of him and his declining eyesight.
Lee was the owner of Pow! entertainment which he founded in 2001 before selling it off to a company in Hong Kong called Camsing International Holding.
A disappointed Lee is suing his former business partners whom he claims took advantage of his condition– macular degeneration, which causes deteriorating eyesight, to make him sign away an exclusive right to use his name to the Chinese company.
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.
He accused Olivarez of stealing $1.4 million and using his blood to create a commemorative stamp of Lee’s without his approval.
The report which first appeared on Variety Magazine said; The new suit also mentions Olivarez, though he is not named as a defendant. The suit claims that Olivarez and two other men, Shane Duffy and Gill Champion, asked Lee to sign over a non-exclusive right to his name to Pow! Entertainment. However, the document that ultimately was signed granted an exclusive right, against Lee’s wishes, according to the suit. The suit claims that Pow! was also given the right to use Lee’s Twitter, Instagram, and Facebook accounts.
Stan Lee has been a Marvel pioneer from the very beginning and has appeared in every Marvel movie since the Marvel Cinematic Universe began, playing cameo roles in every film much to the delight of comic and movie fans everywhere.