Date: 17472007 11:14:03 AM
To: Jams
Subject: press release
Dickstein Shapiro Morin and Oshinsky LLP Represents Mr. Lee in Victory
NEW YORK—(BUSINESS WIRE)—Jan, 27, 2005~ U.S. District Judge Robert Sweet of
the U.S. District Court for the Southern District of New York ruled in favor of ‘Mr. Stan
Lee, the co-creator and artistic force behind Spider-Man and other famous comic book
Superheroes, in his action to recover damages from Marvel Enterprises, Inc. and Marvel
Characters, Inc.(Marvel(NYSE:MVL - News) due to Marvel's refusal to honor ite profit.
sharing contractual commitment to him. The law fitm of Dickstein ‘Shapiro Morin and
Oshinsky LLP represented Mr. Lee.
“lam very gratified by the Judge's decision although, since | am deeply fond of Marvel
and the people there, | sincerely regret that the situation had to come to this,” said Mr
Lee.
Mr Lee was initially employed by Marvel in 1939, and a 60-plus year association
between the two parties followed. During thoso years, much of Marvel's business
was built on products Mr. Lee co-created, which include The Incredible Hulk, X-
Men, Daredevil, and Spider-Man. Mr. Lee entered into a profit-sharing
venture with Marvel for the utilization of his characters and his name, in
return for a 10% participation in the profits derived from productions
using Marvel characters in television or movies, including the Spider-
Man films and television shows. Mr. Lee's claim alleged that Marvel failed and
refused to honor its commitments to him, despite reaping enormous benefits from hie
creations. Even with the success of the Spider-Man movies, Marvel did not make any
Payment to Mr. Lee in accordance with this provision; the company said that it did net
feceive any profits from these productions. Accordingly, Mr. Leo sought damages for a
breach of the agreement. .
Creative genius and that his rights have been vindicated," said Howard Graff,
Partner in the Litigation and Dispute Resolution Group of Dickstein Shapiro Morinrage cure
Mr. Lee now is Chairman and Chief Creative Officer of POWI Entertainment, LLC (Pink
Sheets:POWN - News), where he continues to invent and create new and exciting
characters.
Dickstein Shapiro Morin and Oshinsky LLP
Dickstein Shapiro Morin and Oshinsky LLP, founded in 1953, is a multiservice law firm
with more than 325 attomeys in Washington, DC and New York City. The firm prides
itself on learning and understanding client objectives and partnering with clients to
generate genuine business value. Clients include more than 100 of the Fortune 500
‘companies, start-up ventures and entrepreneurs, multinational corporations and leading
financial institutions, charitable organizations, and government officials in high-profile
investigations. The firm's five core practice groups - Corporate and Finance, Energy,
Intellectual Property, Legislative and Regulatory Affairs, and Litigation and Dispute
Resolution - involve the firm in virtually every major form of counseling, litigation, and
advocacy. For additional information, please visit www.DicksteinShapiro.com.
&
Peter
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Paul
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310 341 3206
8/23/2007