POW! Entertainment Inc. (fka POWN)

[PIbecky]

https://www.prnewswire.com/news-releases/stan-lees-heir-hopes-to-rescue-fathers-legacy-from-alleged-chinese-criminal-enterprise-301100570.html

LOS ANGELES, July 28, 2020 /PRNewswire/ -- In a story right out of a Marvel comic book, life is imitating art. The late legendary super hero comic creator Stan Lee, who created hundreds of well-known comic book characters including Avengers, Spider-Man, Hulk, Iron Man, X-Man and Thor to name a few, now has his daughter JC Lee who is the sole heir and trustee of his estate, bravely taking on the alleged Chinese criminal enterprise, Camsing International, the parent company of POW! Entertainment in appeals court. Convicted criminal, Vivien Lo, who was arrested on July 2019, and found guilty of a three-year, $1.6 billion finance fraud against China's largest hedge fund company, runs Camsing and is the chairman and founder. Lo touted owning the Stan Lee name to further the financial frauds she directed.


(PRNewsfoto/The Estate of Stan Lee)
Growing up in New York City, JC Lee thought the world of her father, Stan Lee, and watched how hard he worked over his lifetime to be successful. Now, JC Lee alleges, his former business partners are stealing Stan Lee's legacy of iconic comic characters and stories that he wrote. JC Lee is now on a mission to seek justice to recover and protect his legacy. "These stories and characters are not only loved by the world, but I am missing my family as these characters are my brothers and sisters. I feel like I have been robbed in the most hurtful way from all of his fans and I want to reach out to all of his fans and tell them about the real Stan Lee. I miss Spider-Man and the rest of my family and I am sure they miss me as I am missing my father," says, Ms. Lee.

In a recent decision on June 25, 2020, a Los Angeles Federal Court Judge, Otis Wright, II, dismissed claims by Stan Lee's estate to protect and recover the name and legacy of Stan Lee from POW! Entertainment. The Court claimed the case had already been tried, and was therefore, "res judicata." However, that decision was based on previous litigation where the Court never saw the evidence of illegalities, fraud and manipulation. Because of that, the Court not only dismissed the estate's claims, but also sanctioned Ms. Lee with a $1 million dollar fine and her lawyers with a $250,000 fine.

Therefore, Lee and her attorneys are appealing the decision and relying on evidence that was not considered by the Court. The media coverage of Camsing's collapse and suspension of trading of its stock has emphasized the use of Stan Lee's name in furthering the criminal activity. "In our appeal, we will prove to the court how Camsing, a known Chinese criminal enterprise, fraudulently acquired POW! Entertainment, the company founded by Stan Lee and Gill Champion. Furthermore, we will prove that my Dad's former trusted business partner, Gill Champion, aided and abetted Camsing in an act of betrayal and an illegal acquisition." This acquisition is also now the subject of a POW! Entertainment Shareholder Class Action lawsuit alleging various illegalities in connection with the acquisition by Camsing engineered by Gill Champion.

The Estate's counsel will appeal the action by the Court with the hope of focusing the court's attention on all of the evidence supporting the allegations of fraud and illegalities perpetrated against Stan Lee by Camsing International and POW's co-founder, Gill Champion, which has been tragically ignored and unreasonably sanctioned by the court.

SOURCE The Estate of Stan Lee