Earlier today, Bleeding Cool looked at the lawsuit that Stan Lee has filed against the company he co-founded, POW! Entertainment, citing damages of over a billion dollars, including allegations that he had not consented to the sale of the company to the Chinese and that they had tricked him into signing over exclusive rights to his name.
We pointed out a few inconsistencies with the timeline in the lawsuit, but now POW! Entertainment has responded to the filed lawsuit with this statement sent to The Hollywood Reporter today.
“The allegations are completely without merit. In particular, the notion that Mr. Lee did not knowingly grant POW! exclusive rights to his creative works or his identity is so preposterous that we have to wonder whether Mr. Lee is personally behind this lawsuit. There is no question Mr. Lee — who, along with his daughter, was and remains a substantial POW! shareholder — clearly understood the terms of the agreements he signed. The evidence, which includes Mr. Lee’s subsequent statements and conduct, is overwhelming and we look forward to presenting it in court.”
Bleeding Cool heard that a POW! Entertainment lawsuit such as this was coming a month ago, when a lawsuit was filed against Jerry Olivarez alleging elder abuse. Olivarez was also mentioned in the POW! Entertainment case. We also heard that a lawsuit would be filed against Stan Lee’s former manager Max Anderson as well.