Comic book creator and legend Stan Lee filed a $1 Billion lawsuit Tuesday against the company he co-created “Pow! Entertainment.” Lee is alleging that “the company conspired with two employees to fraudulently steal Stan Lee’s identity, name, image, and likeness as part of a nefarious scheme to benefit financially at Lee’s expense.” Stan Lee is claiming that they managed to convince him to sign power of attorney over to Jerardo Olivarez(not named in the suit) who bamboozled him into selling the company in 2017 to a company in China.
“The allegations are completely without merit,” said a statement from Pow! Entertainment. “The notion that Mr. Lee did not knowingly grant POW! exclusive rights to his creative works or his identity is so preposterous that we have to wonder whether Mr. Lee is personally behind this lawsuit. There is no question Mr. Lee — who, along with his daughter, was and remains a substantial POW! shareholder — clearly understood the terms of the agreements he signed. The evidence, which includes Mr. Lee’s subsequent statements and conduct, is overwhelming and we look forward to presenting it in court.”
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