Kapow! There may be a superhero-sized lawsuit brewing, with Stan Lee Media suing Marvel Entertainment for US$5 billion.
Stan Lee Media claims that it co-owns franchise characters such as The Incredible Hulk and Spider-Man because Lee transferred IP rights to them to the company that bears his name in 1998. The thing is, Stan Lee is no longer associated with the company and has cut all association with the once-bankrupt entity.
According to published reports, Lee himself decried the suit as ‘baseless,’ while a statement from Marvel declared the action was ‘without merit.’
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