files/pictures/picture-35.jpgNow following a second New York ruling tossing out their claims, the owners of Stan Lee Media have won the right to pursue a new suit against Stan Lee in California, writes The Hollywood Reporter
. California federal judge Stephen Wilson said SLM could sue Lee with its claim that he improperly transferred the rights to his characters to Marvel.
The new suit claims Lee unlawfully moved the rights to his most famous characters to his other companies, QED Productions and POW! Entertainment, who subsequently sold the rights back to Marvel.
The difference between this lawsuit and the prior ones rest on the status of Stan Lee Media as an entity with aggrieved shareholders. Now with a newly elected board of directors, SLM has more legal standing.
SLM wants punitive or exemplary damages, a declaration of SLM's rights to Spider-Man, X-Men, etc. and an injunction from the use of the characters without SLM's approval.
While Marvel and Disney are not cited in the lawsuit, if SLM where to prevail, the cost to the companies could be in the billions.