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Marvel's in for a Hulk of a Lawsuit - Barron's

This YouTube helps explain the story - youtube.com/watch?v=x3...

Marvel's in for a Hulk of a Lawsuit - Barron's

to Richard Land:

YOUR WORDS: "Mr. Lee signed written employment agreements with Marvel in 1976 and 1980 in which Mr. Lee acknowledged and confirmed that all the work he did for Marvel from the beginning of his employment (in 1940) was as an employee."

I believe you that he signed employment agreements in 1976 and 1980. But, Richard, tell Marvel investors the rest of the story. Don't be shy. From the Nov. 1998 contract (you know, the one that came a month after Stan assigned all of his rights to his new company, Stan Lee Media), “This Agreement will constitute the entire understanding between the parties in connection with Stan Lee’s relationship with Marvel from the date hereof, shall supersede any and all previous agreements and may not be amended or modified except by a writing signed by the party to be charged.”

It sure looks like that agreement "shall supersede any and all previous agreements..." you had with Stan. You guys really screwed up when you had the bankruptcy judge cancel Stan's lifetime contract and gave him the freedom to take his rights and assign them to SLM. Marvel investors must be wondering why, if you cancelled it, you shortly thereafter gave him a much better contract. Duh, that seems dumb and a poor business move. You gave away money that belonged to the shareholders.

Marvel's in for a Hulk of a Lawsuit - Barron's

to Eli - how can Lee now make public proclamations that what he did was a work for hire? When he sued Marvel, here is what he said:

14. Under the Agreement the Defendants were given the right and assumed the obligation to commercially exploit Mr. Lee's characters, as well as his name. In order to facilitate these rights and obligations, Defendants received a conditional assignment of Mr. Lee's rights in his many world famous and hugely popular characters, and Mr. Lee was entitled to share in the profits from any live action or animation television or movie production based on these characters and other Marvel characters, as well as profits from the exploitation of any ancillary rights associated with such film or television productions, including toys.

15. Throughout his relationship of more than sixty years with Defendants, during which Mr. Lee permitted Defendants to exploit his superhero characters on the understanding that they would share in the profits derived therefrom, Mr. Lee reposed trust and confidence in Defendants to, among other things, deal with him fairly and in good faith, and to pay over to him a portion of the profits derived from such commercial exploitation.
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As you see, the "Defendants were given the right and assumed the obligation to commercially exploit Mr. Lee's characters." Defendants received a "conditional assignment of Mr. Lee's rights."
Mr. Lee "permitted Defendants to exploit his superhero characters." Isn't that interesting? He asserted then what he denies now after getting paid off by Marvel. How convenient for him in screwing the investors of SLM.

Marvel's in for a Hulk of a Lawsuit - Barron's

HERE IS THE LAWSUIT - www.scribd.com/doc/298...

Marvel's in for a Hulk of a Lawsuit - Barron's

to K. Lewis - I don't suspect it will change the production schedule. It might make investors unhappy who did not receive full disclosure from Marvel.

Marvel's in for a Hulk of a Lawsuit - Barron's

HERE'S THE CORRECT URL FOR THE PREVIOUS POST

www.secinfo.com/dsVsb....

Marvel's in for a Hulk of a Lawsuit - Barron's

As chairman and chief creative officer of the company, this is what Stan told the SEC and investors in his 10K annual report for 1999. www.secinfo.com/dsVsb....

Read below. Stan claimed the following: "Stan Lee's co-creations include Spider-Man, The Incredible Hulk, X-Men, The Fantastic Four, Iron Man, Daredevil, Silver Surfer and Dr. Strange." How can he now say that the works were work for hire?

from the 10K ---

EMPLOYMENT AND SERVICES AGREEMENTS: The Company entered into a lifetime employment agreement with Stan Lee in 1998 in consideration for the assignment and transfer of all of Mr. Lee's right, title and interest in and to any and all ideas, names, titles, characters, symbols, logos, designs, likenesses, visual representations, artwork, stories, plots, scripts, episodes, literary property, and the conceptual universe related thereto, including his name and likeness. Mr. Lee's services for and on behalf of the Company shall be exclusive with the exception of those services provided under a lifetime agreement with Marvel Enterprises, Inc., which shall require no more than an average of 10-15 hours per week on its behalf. The employment agreement provides for base salary compensation of $250,000 annually, a discretionary bonus as determined by the company's board of directors, stock options equal to the highest number of options offered to company executives, reimbursement of certain business expenses, including without limitation, business-related travel and entertainment expenses, and a term life insurance policy in the minimum principal sum of $2 million.

UNIQUE COMPANY ASSETS Our primary assets consist of all the intellectual property currently owned by our founder Stan Lee, including ownership in perpetuity to Stan's name, likeness, brand and signature slogans, "Stan Lee Presents," "Excelsior!" and "Stan's Soap Box," along with rights to all intellectual property that will hereafter be created by Stan Lee. Known to millions as the man whose Super Heroes propelled Marvel Comics to its preeminent position in the comic book industry, Stan Lee's co-creations include Spider-Man, The Incredible Hulk, X-Men, The Fantastic Four, Iron Man, Daredevil, Silver Surfer and Dr. Strange. Now, in the 21st Century, Stan Lee is broadening his horizons once more, this time, into cyberspace. His Marvel creations have inspired thousands of Super Hero fan sites throughout the web, representing millions of web page references. Now his fans and admirers may meet the newest cutting-edge Stan Lee characters in The 7th Portal, which has been launched on shockwave.com and will later be featured on our stanlee.net website. In addition, Stan's fans can visit stanlee.net to read a regularly updated Stanzine with games, goofs and features from Stan and his staff.

Marvel's in for a Hulk of a Lawsuit - Barron's

To - 12345

I told several financial reporters the story when it was filed. Apparently, none wanted to do their homework regarding a $5 billion lawsuit.

Marvel's in for a Hulk of a Lawsuit - Barron's

to 219400 - It will be a big problem for Stan because he made warranties. For Marvel, it is a big problem because they have never told their shareholders the truth. And discovery is going to show who knew what when. This may well become the largest stock fraud in history.

Marvel's in for a Hulk of a Lawsuit - Barron's

Watch how the BK was looted by insiders of POW - youtube.com/watch?v=ap...

Marvel's in for a Hulk of a Lawsuit - Barron's

Eli - read the 13D from Nesfield. www.secinfo.com/d13A33... Marvel has dismissed the claims in its first quarterly report, saying that Stan is fighting them in court. In its upcoming quarterly, they better let the public know that Stan was defeated in court in his attempt to overturn the takeover of Stan Lee Media. Pension fund managers better be paying attention and asking serious questions of Marvel. Investors of POW should be asking Stan how he came into possession of assets such as the Drifter and the Accuser.

Marvel's in for a Hulk of a Lawsuit - Barron's

You might find it interesting that, just before dismissal for cause of the SLM BK in late 2006, the attorney for the debtor in possession made a motion to have the court allow the destruction of corporate records. They claimed that there was no money to store them. No, folks, they were trying to cover their crimes. This is finally going to be exposed. SLM should have been reorganized because it had millions of dollars worth of assets. The money that Stan took in the settlement from Marvel belongs to SLM shareholders.

Marvel's in for a Hulk of a Lawsuit - Barron's

Bill and Eli - it is interesting that Marvel made a settlement with Lee for the intellectual property and paid him over $10,000,000. Were shareholders told that Marvel was admitting that Stan had rights in the creations? No, they weren't. If he had no such rights, they would have never given him $10 mil of money that should have gone to shareholders. It would be interesting for investors to go to the SEC records to see what was filed by Nesfield. His claims, if untrue, should cause him a 10b5 violation, and the SEC should take legal action against him. They have not done so. For those wishing to track through the SLM bankruptcy, you will find that the debtor in possession, an insider of POW (Stan's new company), transferred to another insider of POW, through a subsidiary, properties from the SLM BK in violation of the judge's order. They looted the company while in BK. You can see the transfer that is recorded in the US Office of Copyright. Stan used the Accuser and the Drifter to make deals with Vidiator while in bankruptcy. That is BK fraud and needs to be exposed.

Marvel's in for a Hulk of a Lawsuit - Barron's

Paul's involvement with the Cuban Coffee Caper was almost three decades ago. When investors discovered what Stan Lee had done in the SLM bankruptcy, they took action to take over the company. A Colorado court, where the company is incorporated, agreed that the investor group, led by Nesfield, properly took control. They are now asserting the rights that were hidden in the bankruptcy and never declared by Lee. If Lee's work was work for hire, why did he sue Marvel for rights and extract $10 million from them? Spiderman is in a very sticky situation here and has been caught in his own web. It is time for the SEC and the Justice Department to act.