According to The Geek Files, "Lee, aged 86, founded Stan Lee Media in the 1990s but it went bankrupt in 2001. The organization re-emerged in 2006 and the shareholders want cash they say they are owed for film and book profits from 'Spider-Man,' 'X-Men,' 'Iron Man' and other projects. They say all the rights were signed over to them in 1998.
The company's lawyer, Martin Garbus, believes Lee entered into an agreement that deprived them of profits from films and merchandise. "That money should have gone to the corporation," he said.
The lawsuit was filed against Stan Lee, his partner Arthur Lieberman, Marvel Entertainment Inc and its chairman Isaac Perlmutter and former Marvel Studios president Avi Arad.
Lee's legal representative Mark Williams said: 'We look forward to a positive resolution for Stan Lee and his family.'"
The lawsuit is for a sum total of $750 million. That is a large amount of money, a good fraction of the total amount from the gross profits from Marvel films.
So just after getting out of the big "Watchmen" lawsuit, another superhero debacle is in the courts, except this one is just huge.
What will happen in this case?
More news to come! catch ya' later!
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