Entertainment Pow! Stan Lee Sues His Former Company for $1 Billion

07:05  16 may  2018
07:05  16 may  2018 Source:   people.com

Van Gundy was willing to give up front office role to stay coach

  Van Gundy was willing to give up front office role to stay coach Stan Van Gundy wants to set the record straight about why he was relieved of his duties as head coach and team president of the Detroit Pistons on Monday. It was reported the 58-year-old was reluctant to accept a revised role that would strip him of his front-office responsibilities, but he contended the opposite is true. "(Team owner Tom Gores) was looking to make changes and I was willing to make pretty significant changes but even that wasn't going to be enough," he told The Detroit News' Rod Beard. "Tom decided at the end of the day that he needed to change the structure and the leadership.

Stan Lee Goes After Ex- Company POW ! Here's a $ 1 BILLION Lawsuit!!! Lee 's suing for $ 1 bil along with an order to get his name back. Share on facebook. Tweet this.

He and Pow Entertainment could not immediately be reached for comment. In January, he filed suit against Mr. Nesfield and two of his associates alleging they illegally took over his former company and infringed on his trademarks and Re: Re: Re: Stan Lee Media sues Marvel for 5 billion

Stan Lee is suing his former business partners for a dollar figure that would even make Tony Stark blush.

The comic book legend, 95, just filed a mammoth $1 billion lawsuit against his ex-business partners at POW! Entertainment, whom he claims took advantage of his name without his permission, according to a complaint filed in Los Angeles and obtained by PEOPLE.

Lee founded the production company in 2001 alongside current CEO Shane Duffy and Gill Champion, whom he claims in the complaint “conspired and agreed to broker a sham deal to sell POW! to a company in China and fraudulently steal [Lee’s] identity, name, image and likeness as part of a nefarious scheme to benefit financially at Lee’s expense.”

Walmart’s $16 Billion India Investment Hits Waltons' Fortune

  Walmart’s $16 Billion India Investment Hits Waltons' Fortune <p>Falling shares cut $4.3 billion from the Walton family fortune</p>Walmart Inc., controlled by the Walton family, led a group that bought a 77 percent stake in Flipkart Online Services Pvt. The deal valued the Indian company at about $21 billion.

Even though the film The Avengers has earned $ 1 billion (and counting) since it opened on May 4, 2012, Lee was not entitled to see any profits On June 9, 2007, Stan Lee Media sued Lee ; his newer company , POW ! Subsidiary QED Entertainment; and other former Stan Lee Media staff at POW !

The settlement puts an end to a multimillion-dollar dispute with former shareholders that helped POW ! become a public company . Lee formed POW ! in 2001 after leaving the company that bears his name, Stan Lee Media (SLMI). Three years later, POW

Additionally, Lee claims Duffy and Champion “knowingly made material misrepresentations of fact, and forged or fraudulently obtained a signature from Lee to give POW! Inc. the exclusive use of Lee’s identity, name, image and likeness.”

Stan Lee et al. posing for the camera: Stan Lee at the Avengers: Infitiy War premiere in Los Angeles. © Charley Gallay/Getty Images Stan Lee at the Avengers: Infitiy War premiere in Los Angeles.
  • Want to keep up on the latest from PEOPLE? Sign up for our daily newsletter to get our best stories of the day delivered straight to your inbox.

The complaints also claims that Duffy and Champion took advantage of Lee while he was grieving the loss of his wife Joan in 2017: “Upon her death, Lee at the age of 94 became the target of various unscrupulous businessmen, sycophants and opportunists who saw a chance to take advantage of Lee’s despondent mind, kind heart and devotion to his craft.”

CPP Fund posts 11.6% return in fiscal 2018

  CPP Fund posts 11.6% return in fiscal 2018 CPP Fund posts 11.6% return in fiscal 2018CPPIB's chief executive officer Mark Machin says the main driver of growth over the first nine months of fiscal 2018 came from soaring public equity markets.

Just a day after a strange video featuring the elderly comics mogul threatening to sue any media outlet covering allegations of elder abuse and fraud surrounding Lee ’s fortune, news surfaced that Lee was now suing his former business manager, Jerardo Olivarez, for just those things.

A former business associate of Lee ’s daughter, the suit claims Olivarez took control of Lee ’s professional and financial Olivarez also allegedly convinced Stan to sign his power of attorney over to Olivarez’s lawyer. The company is actually registered as a for-profit merchandising company .

Lee claims in the complaint that Duffy and Champion “knew about [his] diagnosis of advanced macular degeneration, which has left him unable to read or drive on his own since about 2015, and they prayed (sic) on his infirmities while he was in a state of disrepair.”

According to the complaint, POW! needed Lee’s permission to use his name, which he says he never knowingly gave. Therefore, the complaint claims, the production company either forged Lee’s signature, or tricked him into signing over the rights to his name, image and likeness.

The complaint notes that Lee’s name is “the most important and prized possession Lee and his family owned his entire life” and that even when he inked a $4 billion deal with Disney in 2010, he refused to give the company the right to use his name.

Sony to become world's No.1 music publisher with $2.3 billion EMI deal

  Sony to become world's No.1 music publisher with $2.3 billion EMI deal Sony Corp said on Tuesday it would pay about $2.3 billion to gain control of EMI, becoming the world's biggest music publisher in an industry that has found new life in streaming services. The acquisition, which gives Sony a catalogue of more than 2 million songs from artists such as Kanye West, Sam Smith and Sia, is the biggest so far by new CEO Kenichiro Yoshida. The deal seeks to take advantage of the rapid growth in streaming music services like Spotify and Apple Music which has driven a recovery in the music industry.

Lee alleges he ripped off millions of dollars while he was “despondent” over the death of his wife. READ MORE: Stan Lee ’s company employees write letter expressing concern about him. “I had looked out for him during recent contract negotiations with Pow ! .

The Stan Lee drama, stirred up by an in-depth report on the feuding factions around him in The Hollywood Reporter earlier this week (see “More on The suit also charges the Olivarez convinced Lee to agree to the sale of POW ! More to the point, the report also quoted Lee on his financial matters.

In addition to the $1 billion, Lee is asking for an order to get the rights to his name back.

Meanwhile, Lee made a recent appearance at the Avengers: Infinity War premiere in Los Angeles at the end of April, his first public appearance since he revealed he’s battling pneumonia in late February to TMZ.

Speaking to Disney on the Infinity War red carpet, Lee gave a shout out to his fans, thanking them “for having spent all these years coming to see my cameos [in the Marvel films].”

On the day of the premiere, news broke of a lawsuit in which Lee is accused of sexual misconduct by a massage therapist who says he acted inappropriately with her during two separate sessions. A rep for Lee did not return PEOPLE’s request for comment at the time.

Controversy has recently swirled around Lee, who sued a former business manager alleging fraud and has spoken out defending his daughter after others around him claimed she was trying to gain control of his assets.

Lee lost his longtime wife Joan, who died at the age of 93 last July. “She was the girl I had been drawing all my life,” Lee once recalled of his late wife.

Tim Hortons franchisee sues parent company .
Tim Hortons franchisee sues parent companyA Tim Hortons franchisee filed a $4-million lawsuit against the coffee-and-doughnut chain's parent company after he says it refused to renew a license for one of his stores in bad faith.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!