Stan Lee facing £528 million suit from shareholders

American comic book writer, editor Stan Lee has been sued for 528 million pounds by shareholders of a company that carries his name, over film and book profits.

Lee, who is behind the success of Spider-Man, Hulk and the X-Men, has along with Marvel been sued by the shareholders of Stan Lee Media Inc. (SLMI), which had been declared bankrupt in 2001.

The shareholders claimed in the lawsuit, filed at Manhattan’s U.S. District Court, that Lee had signed away all his interest in the Marvel brand and its characters over to them.

Lee had placed Stan Lee Media Inc. in reorganisation and bankruptcy in 2001, but it re-emerged in 2006, and he went on to sue the organisation on the grounds of cypersquatting and copyright infringement.

As per Marvel the latest suit, filed on January 26, is filled with “ridiculous claims”.

“We look forward to a positive resolution for Stan Lee and his family,” the Daily Express quoted Lee’s legal representative, Mark Williams, as saying. (ANI)

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