Lee, a legend in the entertainment industry who co-created numerous comics characters beloved around the world-including Spider-Man, Iron Man, and the Incredible Hulk, among others-filed a $1 billion suit against the company he co-founded in 2001, POW! The deal with Camsing went through when Lee's wife of nearly 70 years, Joan Lee, was dying, say his lawyers, and the comics writer was "in a state of total devastation". At the time, Lee claims, he was devastated because his wife was on her deathbed and they took advantage of his despair - and his macular degeneration, which rendered him legally blind in 2015.
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.
The suit, filed through attorney Adam DH Grant, seeks to rescind the license agreement as well as "damages in excess of one billion dollars".
Lee, it is argued, would not have knowingly signed a document providing the exclusive right to use his identity. He says the two tricked him into signing away exclusive rights to his name, image and likeness.
It's only the latest dramatic legal matter surrounding the co-creator of comic characters including Iron Man, The Incredible Hulk, The X-Men and Thor.
But in April, Olivarez denied to The Hollywood Reporter that he had misappropriated Lee's funds.
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"Duffy and Champion were incentivised to get a deal between POW! and Camsing done because each of them would benefit financially", claims the suit, and that the pair "never disclosed the actual terms of the deal to Lee before closing it".
Corroborating what Lee has been discussing on Twitter, the comic book mogul also claims POW! took control of his social media accounts and has been impersonating him.
"From now on, I will depend on you, my dear fans, to protect and defend me", Lee said.
Lee also acknowledged that someone had apparently "hacked" his Facebook and Instagram accounts, meaning that anything posted by those pages is not aunthentic or authorized in any way. I love you guys and am so happy I have control of my Twitter account back.
There has been a great deal of controversy, concern, and confusion surround Stan Lee lately, and now things have taken a new turn with Lee suing POW! You guys are my true superheros. Lee is personally behind this lawsuit.
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