POW! Entertainment was going to be facing Stan Lee in a lawsuit where the Marvel star accused them of duping him into signing away the exclusive rights to his name. This comes as the struggles in Lee’s personal life continue. The 95-year-old filed the suit in May under the sway of Keya Morgan-who is now banned and under restraining order to Lee.
In a statement which was released on Monday by Lee and POW! Entertainment (Hong Kong’s Camsing International), it was announced that the suit had been dismissed.
“The whole thing has been confusing to everyone, including myself and the fans, but I am now happy to be surrounded by those who want the best for me. I am thrilled to put the lawsuit behind me, get back to business with my friends and colleagues at POW! and launch the next wave of amazing characters and stories!”
POW! Also said that they had been working to resolve the issue with Lee. POW! CEO, Shane Duffy added in the statement,
“We are ecstatic that this ill-founded lawsuit has been dismissed and we look forward to working with Stan again to develop and produce the great projects that were put on hold when the lawsuit was filed. We recently got together with Stan to discuss our path forward and we and Camsing are pleased with his overwhelmingly enthusiastic reaction.”
The lawsuit alleged that Lee had signed POW! over to Camsing in 2017 without fully reading or understanding the documents, citing his macular degeneration for part of it. However, once Lee obtained a restraining order against Morgan, which alleged that Morgan took advantage of Lee to embezzle over $5 million. Morgan has since denied this.
Morgan has since moved out of Lee’s house and moved into an apartment. The restraining order accuses Morgan of isolating him from his relatives and advisors to control his financial affairs.
Shannon Toohey is Editor-In-Chief of FanFest.com. She graduated from Hofstra University in 2015 with a B.A. in Journalism from the Lawrence Herbert School of Communications. Shannon has been a proud member of the Fan Fest team since 2013. Tweet her in your prettiest bird voice: @shannontoo