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etvfutures.com May 22, 2018


Stan Lee files lawsuit against former business partner, claims forgery

16 May 2018, 03:29 | Israel Caldwell

CREDIT John Salangsang REX Shutterstock

Stan Lee

The curious case of Stan Lee has made waves across the Internet ever since Lee was diagnosed with pneumonia and hospitalized with an irregular heartbeat this February. Entertainment, filing a $1 billion lawsuit saying he was taken advantage when he was in an emotionally and physically fragile state.

The comic book legend alleges he was coerced into a fraudulent sales agreement when he was in an emotionally and physically fragile state. The suit claims that Olivarez and two other men, Shane Duffy and Gill Champion, asked Lee to sign over a non-exclusive right to his name to Pow! Stan Lee has filed suit in California against POW! "Inc. the exclusive use of Lee's identity, name, image, and likeness ... and each of them knew that their objective was unlawful and they meant to aid each other in achieving that unlawful objective". "Defendants, and each of them, knew that their objective was unlawful and they meant to aid each other in achieving that unlawful objective".

According to the suit, Lee has macular degeneration - which causes deteriorating eyesight.

However, the suit says, Champion and POW! He was also grieving over the death of his wife, Joan. In order for POW! to be sold, Lee would have had to sign the agreements, which he claims is something he'd never do.

Lee alleged that the current CEO of POW and a former business partner of his didn't disclose the terms of the acquisition deal to him and that they requested he sign a non-exclusive licence with POW in connection with the creative works owned by POW for the sale.

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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.

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.

It added that Lee has a history of agreeing to non-exclusive licences for the use of his name, image and likeness.

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



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