Stan Lee, who is best known for creating the expansive and beloved Marvel Universe, has recently filed a $1 billion lawsuit against POW! Entertainment with charges against stealing his name for financial benefit. He founded Pow! Entertainment in 2001. Entertainment without the knowledge of Li used his name and image to boost the value of the asset during the negotiations about selling the company to Chinese investors from Camsing International. Lee appealed to the court because the document that he was asked to sign was really an agreement that would allow POW! to gain the exclusive right to use Lee's name, identity, image, and likeness on a worldwide basis permanently.
When he had first formed POW!, it was meant to be a mere holding company for his vast property used for comics and animation. Shane Duffy and co-founder Gill Champion didn't disclose the details of the deal. Camsing then gained exclusive rights to the company and POW!
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Stan Lee is back in the headlines-and is back on social media! Apparently POW! had to get a sign-off from Lee to use his name, and he claims he never signed any contract. Also, he was dealing with macular degeneration, which is causing him to permanently lose his eyesight. Stan Lee claims that the company conspired to steal his identity during a fraudulent transaction with a Chinese business previous year.
The entertainment icon contends that two business partners took advantage of him at a time when he was despondent over the death of his wife Joan and suffering from macular degeneration, a condition affecting the eyes.
It's only the latest dramatic legal matter surrounding the co-creator of comic characters including Iron Man, The Incredible Hulk, The X-Men and Thor.
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The suit follows an investigative piece by The Hollywood Reporter about possible elder abuse involving Lee, who is 95. On Tuesday, he posted a video to fans thanking them for their support, and tweeted: "Help!" 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".
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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