Washington: Comic book creator Stan Lee has now dismissed a $1 billion lawsuit against a production house lodged under charges of fraud.
According to Hollywood Reporter, he filed the lawsuit against POW! Entertainment.
“The whole thing has been confusing to everyone, including myself and the fans, but I am now happy to be surrounded by those who want the best for me,” Hollywood reporter quoted as saying.
“I am thrilled to put the lawsuit behind me, get back to business with my friends and colleagues at POW! and launch the next wave of amazing characters and stories!” he added.
Replying to his statements POW! CEO Shane Duffy said that they were ecstatic to find this sudden development.
“We look forward to working with Stan again to develop and produce the great projects that were put on hold when the lawsuit was filed. We recently got together with Stan to discuss our path forward and we and Camsing are pleased with his overwhelmingly enthusiastic reaction,” Duffy said.
Lee in his lawsuit claimed that the company and its officers allegedly conspired to steal his identity, name and likeness and sell it to a Chinese company.
Lee had sought an injunction declaring the agreement to be invalid.