POW! Entertainment has called Stan Lee’s $1 billion lawsuit “preposterous,” saying he “clearly understood” what he was signing,
“The complaint is completely without merit,” reads the statement from Camsing International (the Hong Kong company that controls POW!) to Variety. “In particular, the notion that Mr. Lee did not knowingly grant POW! Entertainment the exclusive rights to his creative works or his identity is so preposterous that the Company has to wonder whether Mr. Lee is personally behind this lawsuit.”
Earlier this week, it was reported that Stan Lee was suing POW! Entertainment on the grounds that the company he co-founded stole his name and likeness to sell POW! to a Chinese company, saying that the terms were never disclosed to him. He also accused POW! CEO Shane Duffy, and co-founder Gill Champion, of fraudulently obtaining a document in which Lee grants exclusive rights to his likeness and identity to the company, and control of his social media accounts.