| New
York (November 12, 2002) - Stan Lee, co-creator of Spider-Man,
the Incredible Hulk, Daredevil, X-Men, among other Marvel
characters, filed a $10 million lawsuit on November 12,
2002, charging Marvel is cheating him out of millions of
dollars in movie profits.
Stan Lee, who as writer and editor teamed
up with several artists to create Marvel's characteristic
superpowered heroes with very human flaws, claims Marvel
Entertainment Inc. has tried to shut him out of the "jackpot"
success of this summer's hit Spider-Man
movie.
Lee's attorneys filed the suit in Manhattan
federal court, claiming that Marvel signed a deal to give
Lee 10 percent of any profits from his characters used in
films and television shows.
Stan Lee
|
Spider-Man
has been the year's biggest hit, grossing more than
$400 million domestically — but the 80-year-old Lee
says he hasn't seen a penny.
"Despite reaping enormous benefits
from Mr. Lee's creations, defendants have failed and refused
to honor their commitments to him," the lawsuit alleges.
Marvel has reported millions of dollars
in earnings from the film but has told Lee the company has
seen no "profits" as defined by their contract.
This is a common "accounting practice" used by
many film companies that has often resulted in highly successful
movies lacking a "paper profit."
Lee hopes a judge will intervene and
ensure he obtains a percentage of profits from the forthcoming
Ben Affleck movie Daredevil,
scheduled for release in February.
He also seeks a share of profits from
the upcoming movie The Hulk,
and the sequels to X-Men
and Spider-Man.
|
Stan Lee
The lawsuit demands damages and a court
order forcing Marvel to turn over Lee's share in any profits
from movies about characters he created.
Marvel issued a statement saying Lee
"continues to be well-compensated" for his contributions
to the industry. It said the company is "in full compliance
with, and current on all payments due under, terms of Mr.
Lee's employment agreement." |
