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UPDATE, 18:02: Stan Lee and Pow! Entertainment said today that the cartoon legend has abandoned its fraud lawsuit against the company that it co-founded. Read the case details below.
"Everyone has been confused for everyone, including myself and the fans, but I'm happy to be around those who want the best for me". "I'm delighted to put the pursuit behind me, to go back to business with my friends and POW colleagues! and launch the next wave of amazing characters and stories. "
Said Pow! CEO Shane Duffy:" "We are delighted that this unfounded complaint has been rejected, and we look forward to working with Stan again to develop and produce the large projects that were put on hold during the We have recently met with Stan to discuss our way forward and we and Camsing are pleased with his extremely enthusiastic response. "
PREVIOUSLY, May 15: Stan Lee is 95, but a little thing like that does not stop him from aggressively protecting his name and likeness. The legendary creator of superhero comics has deposited a billion dollars – with a B trial against Pow! Entertainment, claiming that the media and entertainment company that he co-founded conspired with a pair of his employees to steal his identity.
In the lawsuit filed today at the Los Angeles Superior Court (read here), Lee says Shane Duffy and co-founder Gill Champion did not inform her of the terms of the company's sale to Camsing International, based in Hong Kong, a year ago.
"The defendants conspired and agreed to negotiate a contract to sell prisoners of war! to a company in China and fraudulently stealing the identity, name, image and likeness of Stan Lee as part of a detrimental ploy to financially benefit Lee's costs ", alleges the prosecution "Following their conspiracy and their agreement, the Defendants … knowingly made false material statements, and falsified or fraudulently obtained a signature from Lee to give a POW! Inc. the exclusive use of Lee 's identity, name, image and likeness … and each of them knew that his goal was illegal and that he was not allowed. it was his intention to help each other to achieve this illegal goal. "
Joan B. Lee, the 70-year-old complainant's wife." At his death, "he reads," Lee at the age of 94 has become the target of various men of Unscrupulous, sycophant and opportunistic business who saw a chance to take advantage of Lee's disheartened state of mind, heart and dedication. He adds that Duffy and Champion "were two of the opportunists" and that he was "taking on" his infirmities while he was in a state of desperation.
Lee's lawsuit adds that he and another man – Jerardo Olivarez, who is not named as a defendant – managed to convince Lee to sign a power of attorney to gain more control over Lee's property. "The lawsuit notes that Olivarez is" a person Lee once confided but who is sued by Lee for fraud.
Adam DH Grant and Jennifer Levin Stearns of Alpert, Barr & Grant represent Lee in the lawsuit, including punitive and compensatory damages exceeding $ 1 billion.
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