Los Angeles, CA (PRWEB) April 6, 2009
Spider Man creator Stan Lee was named as a defendant in a new Stan Lee Media shareholder suit filed by Jose Abadin in Los Angeles Federal Court on Friday, April 3, 2009, Case #CV09-2340 SUW.
Abadin's suit, on behalf of all Stan Lee Media Inc shareholders, followed Federal Judge Stephen Wilson's notification to the United States Copyright Office of his ruling that Stan Lee, and his public company POW Entertainment (POWN:BB) illegally assigned copyrights on the Stan Lee Media characters The Drifter and Accuser to POW Entertainment in 2006. (see attachments, court case #s CV 07-225-SVW and 07-4438-SVW).
These contested creations have been the basis of various highly publicized licensing and joint venture deals between Stan Lee's POW Entertainment and Sprint Mobil, Starz Entertainment and a division of Liberty Media.
Jose Abadin, a Los Angeles based investment banker and stock broker, has been a substantial investor in Stan Lee Media since 1999, when the investment banking firm he was associated with provided multi-million dollar venture funding to Stan Lee Media.
The suit requests judicial enforcement of, and damages for the violation of Stan Lee Media's rights under Stan Lee's October 1998 Employment and Rights Assignment Agreement in which Lee assigned everything he owned "in the creative universe," including his name, to capitalize the dot com Stan Lee founded in 1998, Stan Lee Media Inc of Colorado.
In a related federal suit filed in New York (Case # 07 Civ. 2238) on behalf of Stan Lee Media shareholders, Lee and Marvel Entertainment are being sued to obtain Stan Lee's co-creator's profits to Lee's "world famous creations" for Marvel including Spider Man, Ironman and X-Men. These rights are alleged to have been included in Lee's universal rights assignment to Stan Lee Media. (see attached).
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