Stan Lee Socks His Former Company With $1 Billion Lawsuit

Stan Lee Socks His Former Company With $1 Billion Lawsuit

"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 suit alleges. (1) forged Lee's signatures; (2) lifted Lee's signature from another document and imposed it on the Illegitimate Document; or, (3) someone, likely one of the Defendants, induced Lee to sign the Illegitimate Document by using a bait and switch tactic: "telling Lee it was something else".

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. "Lee has yet to provide anyone with the exclusive right to use his identity, image, name and likeness".

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. 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 has denied those claims too. He is blaming the fact his wife, who passed away in July of previous year, was dying at the time. The suit notes that Olivarez is "a person Lee once trusted but who is being sued by Lee now for fraud".

Due to Lee's advanced macular degeneration he has lost most of his vision and can not read. "In addition, POW! took control of Lee's personal social media accounts, including Facebook, Instagram and Twitter, thereby impersonating Lee before a combined 15 million followers worldwide".


"From now on, I will depend on you, my dear fans, to protect and defend me", he added. You guys are my true superheroes.

Lee is seeking compensatory and punitive damages totalling $1 billion, rescission of the illegitimate document and injunctive relief.

Lee has been in a whirlwind of lawsuits over the last few months. "She was the girl I had been drawing all my life", Lee once recalled of his late wife.

Lee was allegedly robbed by Olivarez, whom he claims coordinated plans to steal a significant sum before illegally purchasing property in his name.

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