Stan Lee has filed a $1 billion lawsuit against his former business partners POW! In the case, taking advantage of Lee's macular degeneration and subsequently impaired sight to get him to sign away exclusive rights to use his name to Camsing International Holding, a Hong Kong-based company that acquired POW! previous year.
"Defendants conspired and agreed to broker a sham deal to sell POW! to a company in China and fraudulently steal Stan Lee's identity, name, image, and likeness as part of a nefarious scheme to benefit financially at Lee's expense", the court documents read. 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. Entertainment CEO Shane Duffy and co-founder Gill Champion failed to fully disclose to Lee details of the firm's sale previous year to Hong Kong-based Camsing International.
POW! was acquired previous year by Hong Kong-based Camsing International. Entertainment over the use of his name and likeness.
Lee has denied those claims too. He's now suing his ex-business manager Jerardo Olivarez for fraud, while vials of his blood were used for signatures on comics in Las Vegas without him knowing.
Lee lost his longtime wife Joan, who died at the age of 93 last July.
According to the suit, Lee "does not recall anyone reading the Illegitimate Document to him, and, due to his advanced macular degeneration, he could not have read it himself".
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Lee also claims POW! took control of his social media accounts and has been impersonating him - something he's recently addressed on Twitter.
"From now on, I will depend on you, my dear fans, to protect and defend me", Lee said. You guys are my true superheroes.
Lee has been in a whirlwind of lawsuits over the last few months.
Lee seems intent on regaining control of his life.
The suit, filed through attorney Adam DH Grant, seeks to rescind the license agreement as well as "damages in excess of one billion dollars".
Lee was allegedly robbed by Olivarez, whom he claims coordinated plans to steal a significant sum before illegally purchasing property in his name.