Posted by Chronically Blunt at outboundhost203.mbusanet.com on November 08, 2002 at 10:40:08:
In Reply to: Any thought on Stan Lee suing Marvel? posted by Donnacha on November 08, 2002 at 09:30:48:
Good For Him.....
: "Stan Lee Suing Marvel Comics?
: Thursday, November 7, 2002 12:36 CST
: Dow Jones Business News reported the following:
: Marvel Enterprises Inc. (NYSE:MVL - News) might be sued by Chairman Emeritus Stan Lee if it doesn't pay him 10% of company profits earned from movies and television programs, including ancillary rights, that use the company's characters.
: According to a Form 10-Q filed Wednesday with the Securities and Exchange Commission, Marvel Enterprises said it received a written claim for the profits from Lee and "the threat of litigation" against the company if it doesn't pay him the profits.
: Lee said he believes the profits are owed to him under the employment agreement he signed with Marvel Enterprises on Nov. 1, 1998, the filing said.
: The company said it's paying Lee an annual salary of $1 million, and it believes his claim is without merit.
: Marvel Enterprises, New York, publishes comic books and makes toys based on Marvel Entertainment's more than 3,500 characters.
: "