Tuesday, January 27, 2009

Marvel Comics in legal trouble!

Looks like problems in the "House of Ideas"!

The shareholders of Stan Lee Media, Inc. filed suit yesterday against Stan Lee, his wife, Marvel Comics, Marvel Chairman Issac Perlmutter, and former Marvel chief executive officer Avi Arad, for over $750 million! That's about half the proceeds of Spider-Man, Iron Man, and X-Men.

According to the suit, Lee, Permutter, Arad and Marvel denied Stan Lee Media shareholders their rights in ownership to 50% of the characters created by Lee. This is apparently the result of Lee transferring all of his interest in the characters he created for Marvel over to Stan Lee Media back in 1998.

Now, Stan Lee Media shareholders claim that Lee and the others “improperly colluded to hide and misappropriate financial interests in Lee's creations assigned to Stan Lee Media in 1998 and reaffirmed in 1999.”

They claim that the money Lee was paid should have gone to the company.

Marvel filed a response stating the suit was filled with "ridiculous claims" and argues that the suit is seeking claims from past cases

The company's attorney, Martin Garbus, said "It's a very different lawsuit. It's different money." Adding, that Lee "made a deal. That money should have gone to the corporation."

Forget The Hulk...


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