Lee, Marvel Sued for $750 Million by Stan Lee Media, Inc.


Teh Sexy Monkey Queen
Jul 24, 2004
The World of Icelandia.
From Newsarama:

Lee, Marvel Sued for $750 Million by Stan Lee Media, Inc.

Stan Lee's multimedia plans from the '90s have come back to haunt him once again, as shareholders of Stan Lee Media, Inc. on Monday filed suit against Lee, his wife, Marvel Comics, Marvel Chairman Issac Perlmutter, and former head of Marvel Studios Avi Arad for over $750 million – one half the proceeds from Spider-Man, X-Men and Iron Man.

The suit claims that Permutter, Lee, Arad and Marvel denied the shareholders of Stan Lee Media to their rights in the ownership of 50% of the characters and properties created by Lee, including Spider-Man, the X-Men, Iron Man and dozens of others. The shareholders claim that Lee transferred all of his interest in the characters he created for Marvel to Stan Lee Media in 1998.

After founding the Stan Lee Media, Inc. with Peter F. Paul in 1998 as a home for new (mostly) web-based creations, the company saw a tumultuous run in the heyday of the dot-com bubble. After fortunes turned south for Stan Lee Media, Lee himself placed the company into bankruptcy in 2001. Stan Lee Media's downfall was an example of the worst of the dot com bust, with several company officers arrested for manipulating stock prices and other crimes. The meltdown of Stan Lee Media famously (or infamously) invovled Peter F. Paul fleeing to Brazil, contributions made to Bill and Hillary Clinton, Paul's extradition and more.
Marvel is just not having a good new year. Marvel Studios in particular is rumored to be having financial difficulties, with the word of how much they've been offering actors for Iron Man 2, and now this. Geez.
This just seems counter-productive to me.

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