Stan Lee Sues POW! Entertainment for $1 Billion

Stan Lee Sues POW! Entertainment for $1 Billion

Stan Lee Sues POW! Entertainment for $1 Billion

According to Lee, he was unaware the sale was taking place, as he was in the middle of a tough period in his life with his deteriorating vision and his wife Joan's death.

Stan Lee has come out swinging against his former company POW!

Lee was one of the co-founders of POW! "Pursuant to their conspiracy and agreement, Defendants ... knowingly made material misrepresentations of fact, and forged or fraudulently obtained a signature from Lee to give POW!"

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". The suit also says POW! was given the right to use Lee's Facebook, Twitter and Instagram accounts.

Lee explained that he would not have knowingly signed the licence and that he suspects someone induced him into signing the document by using a "bait and switch" tactic, telling Lee that the document was something else.

He's now suing his former business manager Jerardo Olivarez for fraud, accusing him of mismanaging his affairs and embezzling millions of dollars, at the time when he was grieving over the death of Joan Lee in 2017. "Lee has yet to provide anyone with the exclusive right to use his identity, image, name and likeness".

"Lee's suit adds that they and another man - Jerardo Olivarez, who isn't named as a defendant - managed to convince Lee to sign a power of attorney to gain further and more precise control over Lee's assets".

Adam D.H. Grant and Jennifer Levin Stearns of Alpert, Barr & Grant are representing Lee in the suit, which punitive and compensatory damages in excess of $1 billion.

Lee says a year ago Duffy and Champion, along with his ex-business manager Jerardo Olivarez, whom he's now suing for fraud, asked him to sign a non-exclusive license with POW! for the use of his name and likeness in connection with creative works owned by the company.

TheWrap has reached out to Camsing for comment on the suit.

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