Lawsuit over Marvel films

[JackFetch]

Shareholders of an ill-fated Stan Lee venture are seeking more than $750 million in profits from films and other works based on Marvel comic characters such as "Spider-Man,""X-Men" and "Iron Man."

The lawsuit was filed Monday in a Manhattan federal court on behalf of shareholders of Stan Lee Media Inc. Defendants include Lee, his partner Arthur Lieberman, Marvel Entertainment Inc. and its chairman Isaac Perlmutter, and former Marvel Studios president Avi Arad.

The suit names four shareholders who live in Florida, California and Canada. Their lawyer, Martin Garbus, said the suit is aimed at reclaiming money for all Stan Lee Media Inc. shareholders.

The lawsuit claims profits from Lee's comic creations belong to the company, which emerged from bankruptcy in 2006. The suit claims Lee, Marvel and others have violated Stan Lee Media's copyright interests and that the firm is due profits from all properties, including blockbuster films that were made after 1998 and based on Lee's creations.

The lawsuit's allegations were immediately rebuffed, with Marvel issuing a statement that said the lawsuit is filled with "ridiculous claims."

Lee's attorney, Mark W. Williams, said: "We look forward to a positive resolution for Stan Lee and his family."

Marvel also claimed the lawsuit features claims that have been pursued in previous cases.

Garbus said Monday's suit differs in that it names Lee, Arad and Perlmutter. "It's a very different lawsuit," Garbus said. "It's different money."

He said he suspects that Lee, who once sued Marvel over profits from his creations, entered into an agreement that deprived Stan Lee Media of the windfall from blockbuster movies such as the "Spider-Man" and "X-Men" trilogies.

"He made a deal," Garbus said of Lee's confidential settlement that led to his reconciliation with Marvel. "That money should have gone to the corporation."

http://www.superherohype.com/news/topnews.php?id=8014

It's sad to see how sue happy people are.

[annericelover]

Okay, so basically Marvel is fucking over the guy who made them a household name in the both the comic world and film world? That's a low blow man. Marvel you need to get your priorities straight, you were almost in a state of bankruptsy and Stan Lee pulled you guys out with the films based on creations he invented for your company which got you noticed in the first place.

[slothian]

Both sides of the argument there, then.

I'm not even going to pretend to know who's in the right here. The fact this company "emerged from bankruptcy in 2006" and have only filed the lawsuit now after Marvel Studios has been properly extablished following the success of Iron Man is definitely suspect. On the other hand, if Stan Lee did set up his own media company and the settlement he made with Marvel ignored that company, it does sound like there's a case to answer. Either way, just reading that share-holders are suing Stan Lee over the money they're owed over his creations is pretty bizarre.

[drqshadow]

I was under the impression that Stan Lee Media was for his new creations, specifically those he produced for the internet and Spike TV. All of which sucked ass.

Incidentally, it wasn't Marvel who emerged from bankruptcy in '06, it was SLM. I think Marvel officially came out of Chapter 11 in 2000.

[Mistah J]

I agree with both sides, but I think that as Stan Lee is God you shouldn't treat him like this unless you want Thor to put a lightning bolt up your ass.