Stan Lee Files Billion-Dollar Fraud Lawsuit Against Pow! Entertainment

Stan Lee reportedly slaps POW! Entertainment with $1B fraud lawsuit

Lee, 95, co-created iconic comic-book characters such as Spider-Man, the X-Men and Black Panther for Marvel Comics, and makes regular cameo appearances in the ongoing movie spin-offs. Entertainment - including the company's current CEO Shane Duffy, and Gill Champion, with whom he co-founded the production company, reports TMZ.

Stan Lee has come out swinging against his former company POW! The company was sold to Chinese company Camsing International Holding Limited previous year, the complaint notes. 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! past year. The suit alleges that Lee was led to believe the deal included a licensing agreement that was non-exclusive, however the contract he signed gave POW! He was also grieving over the death of his wife, Joan.

The documents, reportedly filed in Los Angeles County Superior Court by attorney Adam D.H. Grant of Alpert, Barr & Grant, go on to allege that Chinese firm Camsing International Holding took advantage of Lee's poor eyesight brought on by macular degeneration during its acquisition of POW! "While the Illegitimate Document purports to contain Lee's signature, Lee never knowingly signed it".

Lee also claims POW! took control of his social media accounts and has been impersonating him - something he's recently addressed on Twitter. "Lee has yet to provide anyone with the exclusive right to use his identity, image, name and likeness".

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The suit "seeks damages in excess of $1 billion".

The suit suggests that Duffy, Champion or POW! either forged Lee's signature, lifted it from another document or induced him to sign it by telling him it was something else.

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

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