For those unaware of Lee's lawsuit, the comic creator filed a complaint claiming POW! "Inc. the exclusive use of Lee's identity, 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.
POW! was acquired in 2017 by Hong Kong-based Camsing International, and Lee says POW! Lee claimed that his fellow co-founders had "forged or fraudulently obtained" his signature to gain illegal rights to the usage of his name anytime. Lee's attorney said he does not recall anyone reading the Illegitimate Document to him, and, due to his advanced macular degeneration, he could not have read it himself.
When he had first formed POW!, it was meant to be a mere holding company for his vast property used for comics and animation.
The sum, equating to around £740million, comes from a lawsuit in which the 95-year-old alleges that POW! co-founder Gill Champion and CEO Shane Duffy brokered a "sham deal" to sell off the company to Camsing, of which Duffy is also Vice President. Camsing then gained exclusive rights to the company and POW!
Stan Lee says he would never have signed over the use of his name - "the most important and prized possession Lee and his family owned his entire life" - and points to the fact he wouldn't let Disney use his name when he signed a million dollar movie deal with them (via TMZ). Also, he was dealing with macular degeneration, which is causing him to permanently lose his eyesight. But in April, the company issued a statement expressing concern for Lee's well- being, amid reports that Lee was the victim of elder abuse. At the time of the deal, Lee's beloved wife, Joan, was on her deathbed, and Lee claims that Duffy and Champion took advantage of that tragedy to push the deal through.
The filing follows a similar suit brought last month against Jerardo Olivarez, a former publicist and business manager to Lee. Entertainment to take control of Lee's social media accounts, including Facebook and Twitter. "He gave me a check as a thank-you". You guys are my true superheroes. The suit hopes to roll back the agreement and collect damages up to 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.