Disney and Marvel Being Sued For $5.5 billion Over Rights To Stan Lee Characters
A lawsuit was filed today by SLMI, Stan Lee's former company, against Disney and Marvel seeking damages of $5.5 billion.
SLMI claims that Stan Lee signed over the rights to the Marvel characters, which include the Avengers, Fantastic Four, Spider-Man and the X-Men, back in October of 1998 - before Lee signed them over to Marvel in November 1998.
The lawsuit notes that neither Disney nor Marvel have ever publicly recorded that Marvel Agreement with the United States Copyright Office.
"Defendant The Walt Disney Company has represented to the public that it, in fact, owns the copyright to these characters as well as to hundreds of other characters created by Stan Lee. Those representations made to the public by The Walt Disney Company are false,” says the company’s copyright infringement complaint filed today, reported by Deadline.
According to the documents, SLMI is seeking full control over the characters as well as "the maximum statutory damages allowable" and wants a jury trial.
You can read the full document via Deadline.