Despite the media attention it’s attracted, Lee still hasn’t filed the complaint.
POW! Entertainment has called Stan Lee’s $1 billion lawsuit “preposterous,” saying he “clearly understood” what he was signing,
“The complaint is completely without merit,” reads the statement from Camsing International (the Hong Kong company that controls POW!) to Variety. “In particular, the notion that Mr. Lee did not knowingly grant POW! Entertainment the exclusive rights to his creative works or his identity is so preposterous that the Company has to wonder whether Mr. Lee is personally behind this lawsuit.”
Earlier this week, it was reported that Stan Lee was suing POW! Entertainment on the grounds that the company he co-founded stole his name and likeness to sell POW! to a Chinese company, saying that the terms were never disclosed to him. He also accused POW! CEO Shane Duffy, and co-founder Gill Champion, of fraudulently obtaining a document in which Lee grants exclusive rights to his likeness and identity to the company, and control of his social media accounts.
“Lee does not recall anyone reading the Illegitimate Document to him, and, due to his advanced macular degeneration, he could not have read it himself,” Adam Grant says in the filing. “While the Illegitimate Document purports to contain Lee’s signature, Lee never knowingly signed it.”
The complaint hasn’t yet been served, or filed with the listed courthouse. Camsing has apparently only seen a copy of Lee’s lawsuit in the media.
“There is no question that Mr. Lee–who along with his daughter was and remains a substantial POW! Entertainment shareholder—clearly understood the terms of the agreements he signed,” Camsing’s statement continues. “The evidence, which includes Mr. Lee’s subsequent statements and conduct, is overwhelming and the Company looks forward to presenting it in court. When and if the complaint is properly served, POW! Entertainment will respond in a timely and appropriate manner through legal channels.”
Lee is currently embroiled in a lawsuit against his former business manager, Jerardo Olivarez, for elder abuse.
When rumours of the abuse began floating around last month, Lee’s celebrity friends reached out offering to help. Lee responded by calling the reports “inaccurate” and “insulting,” going on to threaten legal action if they continued.