It added that Lee has a history of agreeing to non-exclusive licences for the use of his name, image and likeness. Entertainment, has hit back at claims that Stan Lee was tricked into selling the company he founded.
In the lawsuit, Lee alleges that he had been asked by the defendants to sign non-exclusive rights to his name to facilitate the deal, but the agreement ultimately allowed for exclusive rights. The company was sold to Chinese company Camsing International Holding Limited previous year, the complaint notes.
As the lawsuit posits, Lee says he doesn't "recall" anyone reading him the document as he could not do so himself.
When he had first formed POW!, it was meant to be a mere holding company for his vast property used for comics and animation. The complaint, filed in Los Angeles County Superior Court, alleges that Pow! chief executive Shane Duffy and co-founder Gill Champion failed to fully disclose to Lee details of the firm's 2017 sale to Camsing International. Camsing then gained exclusive rights to the company and POW!
Stan Lee poses for photo at China's Great Wall in December 2017 on his first China trip orchestrated by POW! He said that POW! has also been impersonating him on social media, and in his lawsuit, Lee wants the company to stop using his name and likeness and for the court to declare the agreement he signed invalid and unenforceable.
Lee is seeking compensatory and punitive damages totalling $1 billion, rescission of the illegitimate document and injunctive relief. He also cited his macular degeneration, which rendered him blind in 2015, as another reason.
The complaints noted upon death of Lee's wife Joan B. Lee previous year that, "Lee at age 94 became the target of various unscrupulous businessmen, sycophant and opportunists who saw a chance to take advantage of Lee's despondent state of mind, kind heart and devotion to his craft", pointing out Duffy and Champion knew about his diagnosis of advanced macular degeneration, which has left Lee unable to read or drive on his own since about 2015.
In April, Lee sued his ex-manager Jerardo Olivarez.
"From now on, I will depend on you, my dear fans, to protect and defend me. You guys are my true superheros", posted his account recently. The first video stream went live late last night along with a photo showing Lee hanging out with Vin Diesel during the film premiere of Avengers: Infinity War. The creator also claims to have never signed the sales contract, leading him to believe someone must have forged his signature.