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The production company was sold to the Chinese company Camsing previous year, but Lee argues that he was unaware of the negotiations and that he never would have knowingly signed his name on a document that gave away his name. The deal with Camsing went through when Lee's wife of nearly 70 years, Joan Lee, was dying, say his lawyers, and the comics writer was "in a state of total devastation". According to the suit, CEO Shane Duffy and Gill Champion used this health condition against him and swindled him into signing over his name. At the time of the deal, Lee's beloved wife, Joan, was on her deathbed, and Lee claims that Duffy and Champion took advantage of that tragedy to push the deal through.

In his suit, Lee takes issue with the company's acquisition a year ago by China-based Camsing International Holdings, alleging that Champion and Duffy "conspired and agreed to broker a sham deal to sell POW! to a company in China and fraudulently steal Stan Lee's identify, name, image and likeness as part of a nefarious scheme to benefit financially at Lee's expense". Instead, what he purportedly signed was a "fraudulent" intellectual property assignment agreement that granted POW!

The comic-book icon filed suit Tuesday in Los Angeles Superior Court against POW! "Pursuant to their conspiracy and agreement, Defendants ... knowingly made material misrepresentations of fact, and forged or fraudulently obtained a signature from Lee to give POW!"

According to the court documents, Lee had no idea a sale was in the offing. Lee is seeking to nullify the deal and receive 1 billion dollars in damages.

Spider-Man and X-Men co-creator Stan Lee is reportedly suing POW!

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Lee has denied those claims too.

"From now on, I will depend on you, my dear fans, to protect and defend me".

Lee also acknowledged that someone had apparently "hacked" his Facebook and Instagram accounts, meaning that anything posted by those pages is not aunthentic or authorized in any way. "I love you all and let's keep up this great relationship". You guys are my true superheros. The degeneration rendered Lee legally blind in 2015.

Lee was himself accused last month of sexual battery and battery after he was sued by massage therapist Maria Carballo. With accusations of sexual misconduct on Lee's part and accusations of elder abuse against his caretakers, fans have been quite confused and anxious about Stan Lee.