Class Action Suit
I am reaching out to a few attorneys to file a class action suit against Stan, Gill and POW! for fraudulent actions taken in connection with their roles as sole directors and officers leading to actions now being taken in connection with delisting the company for sale to a Hong Kong company.
Not to mention the acquisition of Arturion by POW based on fraudulent representations made by the Stan Lee group regarding their looting of assets from Stan Lee Media (SLM), the company they managed prior to placing it into Chapter 11 proceedings in February 2001. During SLM's Chapter 11 debtor in possession proceedings, Stan Lee assigned the major character franchises he created there to his newly public company, POW! Entertainment, without the knowledge or approval of the bankruptcy court. Courts later determined that Lee and his partner and SLM lawyer Arthur Lieberman failed to disclose the existence and value of the Rights Assignment Lee made to the company when he founded it.
You need to consider this egregious situation created by Stan Lee for yet another group of public shareholders. The Class Action by SLM shareholders against Lee et al in 2002 resulted in Lee settling by paying $6 million to shareholders.
Please let me know if anyone would like to be included.
