STAN LEE Weighs In On Marvel/Disney
According to Reuters, a lawsuit against Marvel Entertainment and Stan Lee has been dismissed by a Manhattan Federal Judge.The suit, for $750 million, had been filed by Stan Lee Media, Inc's shareholders. It alleged that Lee's decision to transfer rights of the characters he co-created to Marvel in 1998 was against the interest of the company and harmed the shareholders. U.S. District Judge Paul Crotty dismissed the case from court March 31, 2010, citing two major facts: the shareholders who initiated the suit didn't purchase their stock until 1999, a year after the rights-transfer, and they didn't file the latest suit until 2009, more than a decade after the alleged wrong-doing. "It's time to call it a halt," said Crotty. This doesn't end Marvel's legal woes with regards to character ownership entirely though, as there is also an ongoing legal battle with the estate of Jack Kirby, who co-created characters like Captain America and the Fantastic Four, amongst many others.
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