Stan Lee, Marvel Sued by Stan Lee Media for $750M Company claimed it's owed profits from films such as 'Iron Man' and 'X-Men' Zap2It.com
January 27 2009
The Marvel superhero business is big, and investors are wanting their cut.
Shareholders at Stan Lee Media Inc. filed a lawsuit in Manhattan federal court Monday (Jan. 26) against Stan Lee, his partner Arthur Lieberman, his wife Joan Clayton, Marvel Entertainment, Inc. and producer Avi Arad, according to news reports.
Four unnamed SLMI shareholders claim that they're owed more than $750 millions from blockbusters starring Marvel superheroes including "Iron Man," "Spider-Man" and "X-Men" since Lee allegedly gave them 50 percent ownership rights to his superhero characters in 1998 when they agreed to pay him a $250,000 annual salary as well as $100 million in company stock. The company had filed for bankruptcy in 2001 but reemerged in 2006 and wants its interests acknowledged.
The shareholders alleged that Lee has now cut a deal with Marvel that prevents them from profiting off the superheroes.
Lee has denied the allegations and countersued SLMI for $50 million, claiming they seized control of his name and image and are preventing him from devloping certain properties as part of his first-look deals with Disney and Virgin Comics.
> Stan Lee, Marvel Sued by Stan Lee Media for $750M > Company claimed it's owed profits from films such as 'Iron Man' and > 'X-Men' > Zap2It.com
> January 27 2009
> The Marvel superhero business is big, and investors are wanting their > cut.
> Shareholders at Stan Lee Media Inc. filed a lawsuit in Manhattan > federal court Monday (Jan. 26) against Stan Lee, his partner Arthur > Lieberman, his wife Joan Clayton, Marvel Entertainment, Inc. and > producer Avi Arad, according to news reports.
> Four unnamed SLMI shareholders claim that they're owed more than $750 > millions from blockbusters starring Marvel superheroes including "Iron > Man," "Spider-Man" and "X-Men" since Lee allegedly gave them 50 > percent ownership rights to his superhero characters in 1998 when they > agreed to pay him a $250,000 annual salary as well as $100 million in > company stock.
Stan doesn't own any part of the characters he created at Marvel.
> The company had filed for bankruptcy in 2001 but > reemerged in 2006 and wants its interests acknowledged.
> The shareholders alleged that Lee has now cut a deal with Marvel that > prevents them from profiting off the superheroes.
> Lee has denied the allegations and countersued SLMI for $50 million, > claiming they seized control of his name and image and are preventing > him from devloping certain properties as part of his first-look deals > with Disney and Virgin Comics.
>>Stan Lee, Marvel Sued by Stan Lee Media for $750M >>Company claimed it's owed profits from films such as 'Iron Man' and >>'X-Men' >>Zap2It.com
>>January 27 2009
>>The Marvel superhero business is big, and investors are wanting their >>cut.
>>Shareholders at Stan Lee Media Inc. filed a lawsuit in Manhattan >>federal court Monday (Jan. 26) against Stan Lee, his partner Arthur >>Lieberman, his wife Joan Clayton, Marvel Entertainment, Inc. and >>producer Avi Arad, according to news reports.
>>Four unnamed SLMI shareholders claim that they're owed more than $750 >>millions from blockbusters starring Marvel superheroes including "Iron >>Man," "Spider-Man" and "X-Men" since Lee allegedly gave them 50 >>percent ownership rights to his superhero characters in 1998 when they >>agreed to pay him a $250,000 annual salary as well as $100 million in >>company stock.
> Stan doesn't own any part of the characters he created at Marvel.
Did he own any rights to any characters in 1998? If so, perhaps he gve them 50% of those characters and someone got really confused.
>>The company had filed for bankruptcy in 2001 but >>reemerged in 2006 and wants its interests acknowledged.
>>The shareholders alleged that Lee has now cut a deal with Marvel that >>prevents them from profiting off the superheroes.
>>Lee has denied the allegations and countersued SLMI for $50 million, >>claiming they seized control of his name and image and are preventing >>him from devloping certain properties as part of his first-look deals >>with Disney and Virgin Comics.
>>>Stan Lee, Marvel Sued by Stan Lee Media for $750M >>>Company claimed it's owed profits from films such as 'Iron Man' and >>>'X-Men' >>>Zap2It.com
>>>January 27 2009
>>>The Marvel superhero business is big, and investors are wanting their >>>cut.
>>>Shareholders at Stan Lee Media Inc. filed a lawsuit in Manhattan >>>federal court Monday (Jan. 26) against Stan Lee, his partner Arthur >>>Lieberman, his wife Joan Clayton, Marvel Entertainment, Inc. and >>>producer Avi Arad, according to news reports.
>>>Four unnamed SLMI shareholders claim that they're owed more than $750 >>>millions from blockbusters starring Marvel superheroes including >>>"Iron Man," "Spider-Man" and "X-Men" since Lee allegedly gave them 50 >>>percent ownership rights to his superhero characters in 1998 when >>>they agreed to pay him a $250,000 annual salary as well as $100 >>>million in company stock.
>> Stan doesn't own any part of the characters he created at Marvel.
> Did he own any rights to any characters in 1998? If so, perhaps he > gve them 50% of those characters and someone got really confused.
I don't know what this contract says, but he didn't own any of the rights to those characters in 1998. Maybe he sold them 50% of any money he made from the characters he created at Marvel.
I don't know how anybody could make such a claim, because it was so widely broadcast that he never owned those characters. When he sued Marvel, a few years ago, it was all over the newspapers.
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