Stan Lee Media, a company founded in 1998 by celebrated comic-book creator Stan Lee, is suing Marvel Ent. for $5 billion. Filed yesterday in United States District Court for the Southern District of New York, the claim alleges that Lee, after his employment with Marvel was terminated nine years ago, transferred rights to comic book characters he co-created to Stan Lee Media ownership.
Lee, who is no longer affiliated with Stan Lee Media and has no part in the suit, issued a statement reading, “I do not support this action and believe the suit to be baseless.” The comic guru is currently suing the Stan Lee Media, challenging the legitimacy of its management. The company recently went into bankruptcy and is seeking to recover revenues Marvel has earned from such popular comic-book properties as Spider-Man, X-Men and The Incredible Hulk. Marvel says the claim has no merit and is confident that it will prevail in the dispute.
Stan Lee currently serves as publisher emeritus of Marvel Comics, while also running POW! Ent. He himself sued Marvel Ent. in November or 2002, claiming that he was entitled to a share of profits earned by the company from the blockbuster Spider-Man movies and other film and television productions that feature Marvel characters. Marvel was ordered to pay him 10% of profits earned since 1998 and appealed the decision, but later settled with Lee for an undisclosed amount.
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