Stan Lee claims that the company conspired to steal his identity during a fraudulent transaction with a Chinese business a year ago. Entertainment, LLC (POW! LLC), which is now owned by Hong Kong-based investment company, Camping International Ltd.
He claims that the company's president Gill Champion and its CEO Shane Duffy took advantage of his grieving state following the death of his wife Joan and also his macular degeneration when the business was sold to Hong Kong-based company Camsing International in 2017.
Lee notes how he experienced the death of his wife, as well as vision impairment due to macular degeneration, around the time this deal came into fruition.
"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. Instead, what he purportedly signed was a "fraudulent" intellectual property assignment agreement that granted POW!
Like the lawsuit last month against his old business partner, this suit, filed in Los Angeles Superior Court, alleges that other people (not including his ex-business manager as a defendant) used his age to swindle him. When the deal happened, Lee could not read the document that he was signing.
Lee, it is argued, would not have knowingly signed a document providing the exclusive right to use his identity. Entertainment, the company he co-founded in 2001 for one billion dollars.
Spider-Man and X-Men co-creator Stan Lee is reportedly suing POW! "Inc. the exclusive use of Lee's identity, name, image and likeness".
But in April, Olivarez denied to The Hollywood Reporter that he had misappropriated Lee's funds.
"From now on, I will depend on you, my dear fans, to protect and defend me", Lee said.
Stan Lee is 95, but a little thing like that doesn't stop him from aggressively protecting his name and likeness.
On the day of the premiere, news broke of a lawsuit in which Lee is accused of sexual misconduct by a massage therapist who says he acted inappropriately with her during two separate sessions.