Home / Section: Comic Books
Stan Lee Media sues Disney for $5.5 Billion
Comic Book Resources’s Robot 6 has a good write-up about the latest legal drama surrounding Stan Lee Media who has now sued Disney for $5.5 billion as well as the history of the company’s legal battles.
The complaint, filed in federal court in Colorado and first reported by Deadline, has its roots in Marvel’s 1998 bankruptcy, when CEO Isaac Perlmutter ended the $1 million-a-year lifetime contract with Stan Lee, negating the legendary writer’s assignment to the company of his rights to his co-creations. It also freed Lee to form Stan Lee Entertainment, which later merged with Stan Lee Media, with infamous entrepreneur Peter F. Paul. That company in turned filed for bankruptcy in February 2001; just four months after SLM emerged from protection in November 2006, shareholders filed a $5 billion lawsuit against Marvel. Stan Lee Media has had no connection to its co-founder and namesake in more than a decade; in fact, the two have sued each other on a few occasions.